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somethings gotta give

sterlingsilver's picture

This has been one of the worst months for me. We were supposed to close on a house in March, it didn't close, so then in April, it didn't close b/c the underwriter then wanted one more month's worth of paystubs from me (the loan is completely on me b/c of dh's bad credit - long story that's related to bm and the crap she pulled on dh when they divorced sticking him with all their credit card debt by making it into back child support and then he had a motorcycle accident w/o insurance for the 1st day and it rung up a 40k bill we haven't paid yet). So we've waited two extra months now for the loan to close. Well just yesterday my Realtor called me and said the group who is writing up my loan is going bankrupt and the lenders and underwriter were all fired and so others have stepped in to complete everything for them and then close shop. Well the new underwriter saw that I was 2 freakin hours short on my paystub we were waiting for so now the loan (might not) go through. We should find out at 9 am this morning.

So last evening I found a really nice acre for rent with a modular on it previously owned by an older lady. Her son had to put her into a care home and needs to get it rented so he says we can move in this weekend if we need to and he also wants to just sell this place but is willing to rent until was can get another lender to work with us. We look at that place at 9 am this morning.

The landlord of this place we are currently renting has tenants ready to move in and wants us out last month so she's been emailing me daily with wanting updates on our situation.

I am not too fond of the house we (were) buying b/c it was a small 2 bed 1 bath home with rec made into master suite, this rent/purchase home is 4 bed 2 full bath and very nice for a very reasonable rent and purchase price. It almost seems a no brainer, except there is one hitch, it's out of the school district we have the boys in. My son is willing to go to the new school b/c it's the district I lived in with my xh and he'll know kids he knew from elementary, however ss16 is from here and has always gone to this same school but dh did say he's going to get his license this summer and he can drive dh's old beater.

Last night was the first night I'd slept all night in a long time b/c I am sort of relieved to get out of this home purchase. I didn't like the house but DH really does. I prefer country living and dh wanted to stay in this area but I like north.

I will be secretly happier in this modular on an acre. But in the meanwhile today is going to tell what we do and which home comes through for us. Somethings gotta give today!

Comments

Willow2010's picture

UGH...you have had a string of bad luck lately. I'm sorry.

If you would rather have the one on the acre...you need to let DH know.

And FYI - I have a 820 credit score and was pre approved for a loan for land. Easy peasy right.? Once the underwriter got to it, it became a nightmare. The documentation and explanation that they require for EVERY thing is so absurd. We almost told them to shove it after gathering document after document for them and they still wanted more.

I have heard lots of horror stories about this in the past year.

It was crazy. It is like they really don't want to loan money now.

Onefootout's picture

Sorry you're going through all this. Hopefully the rental will work out better. You definitely need more room!

RedWingsFan's picture

I'm sorry honey. I hope things work out for the best for you. And one thing I've learned over the years - always listen to your GUT instinct.

Good luck

StepX2's picture

Oh Sterling, I so hope you get what you want. I've been thinking about you. You and your family have been in my thoughts and prayers.