Update on our house
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  1. #1
    Moderator Phaedrae's Avatar
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    Default Update on our house

    Well, talked to the lender today and he wanted bank statements from 2002. Those are the only statements that I seem to be missing (well for the one bank)..I have all my statements from all our other bank accounts and all other years just not the statments for 2002 checking..ugh

    Then I call and talk to my boss because she can't release any of my employment information without written authorization. She informs me that her boss found out that we were going to boost my job title for the loan. She vetoed that real quick.

    We are now down to 5 days before close and I am freaking out.

    Last night was our last opportunity to back out and get our earnest money back. Now if this doesn't go through we lose the house, and $2500.

    Aaaaaaaaaaaaaahhhhhhhhhhhhhhhhhhhhhhhhh!!!!!!!!!!!!!

    Okay thanks for listening..

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    Super Moderator Darlene's Avatar
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    Ooh crunch time is tough! Big hug Phae and continued good wishes. Hang in there!
    ~*Darlene*~
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    Moderator Phaedrae's Avatar
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    Thanks ladies.

    I emailed my boss last night and asked her if we could just omit clerk and leave my position as Accounts Payable. Then it is open to interpretation.

    It was no go on the bank statements.. I finally told the mortgage broker to just leave it how the underwriters have it written up (as a 12 month stated income) and I don't care if we pay $150 more. It is 5 days til closing. I think I may survive without losing my mind.

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    Registered User couponchic's Avatar
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    Good luck!!! I don't understand why they would need your old bank statements though. Never have had a loan officer ask me for old statements ~ just had to provide current balances on all checkings and savings accounts, etc.

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    Hang in there!!!

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    Moderator Phaedrae's Avatar
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    The broker is trying to get a "stated income loan" since DH just recently went to self-employed. Here your required to have 2 yrs proof of income for self-employment.. In order to get a lower APR they need 24 months otherwise it'll be around 6.8% for the first loan and 11.9 for the second..versus 5.5 and 9.9

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    gkp1031's Avatar
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    Good luck with everything!

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    Registered User couponchic's Avatar
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    Thanks for the explanation! Hope everything goes smoothly for you. As for the bank statements, maybe the bank could provide printouts of your activity for that time period. May be a small charge for that, but would be worth it if it would lower your interest rate considerably.

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    Moderator Phaedrae's Avatar
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    I tried with the bank...on the 21st.it would be $3/month needed and they could have them to me in 7-10 days..at which point it does no good since closing is 27th.

    I honestly don't mind paying more..just let me have the house..*L

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    Moderator Phaedrae's Avatar
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    OMG!

    Tomorrow is our closing. The underwriters still don't have their ducks in a row.

    We may be going to close and end up doing nothing. My agent wants to file for an extension. The seller's agent says no way..that he's been f******* lied to and that if the money isn't there tomorrow then we are in default...UGH!

    I, personally do not want to move the close date to Friday. I want it to happen tomorrow. I don't want to spend my last weekend packing, moving, unpacking, and trying to organize the house in 3 days. I want it to all be done and actually enjoy my new home at least one day before going back to work.

    I am getting so frustrated. OUr agent says "Well if it doesn't happen well just find another house." She doesn't understand if we lose $2500. We're done. There won't be a simple finding of another house. We'd wait the two years before trying again so that DH"s income would count, and we'd have a better chance of getting a better APR and better payment.

    Besides which our lease is up on the day I go back to work. I want to be able to hand them the keys to this place on Saturday. So that way I can actually do the walk-through with them. .

    My eye won't stop twitching..I am just so agitated.

  11. #11
    gkp1031's Avatar
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    Keeping my fingers crossed that everything goes well for you tomorrow. Good luck.

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    Registered User Missy's Avatar
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    Please let us know how it goes!!

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    Super Moderator Darlene's Avatar
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    I'll be thinking good thoughts for everything to work out today Phae.
    ~*Darlene*~
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    Registered User dolphin's Avatar
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    Prayers being said for the closing. I hope it all goes through for you.

  15. #15
    Margery Bob canadian gardener's Avatar
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    Praying for you Phae! Big Hugs honey!!!!

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