Saturday, November 10, 2012

Home Buying Purgatory - Part 2- Dante's Inferno

I don't know what to say. Actually I do, but it is inappropriate, and not at all family friendly.

I am furious at some people's inability to do their jobs. Six days before closing day the woman we have been dealing with at the bank informs us that the people who her bank immediately (like 5 minutes after closing) sells our loan to needs six months of previous paychecks.

First off, why the heck did it take them thirty-nine days to figure that out and tell her, and secondly why do we even bother talking to her if her bank doesn't even keep our loan for a day, and therefore must follow some else's requirements for a loan?!

Another fun fact. When we first started talking to  her back in June she said her bank needed one month's of paycheck, then when we went to her for the written pre-approval she informed us that--since it was a VA loan--it would have to go through an extra step and be approved by her "underwriter".    This made our pre-approval take a little longer, since the underwriter decided we needed three month's worth of paychecks from his new employer. But at no point did any of them mention that they needed six months of paychecks. The woman we dealt with at the bank was well-informed in June that my husband would be starting his new job in Wisconsin in July, so she was well aware that there were not six months of pay history with his current employer.


Now if at any point during the past several months these people had mentioned the need of six months of past paychecks we would have gotten an apartment in Wisconsin. My husband would not have spent the past four months living in a hotel and coming back Friday night after work just before Bubba's bedtime only to have one day to spend with us before having to pack back up Sunday afternoon to return to Wisconsin.

I don't know what is happening. I don't know if HUD will grant us an extension on the house and wait two more months or if we will loose the house.

I do know one thing. Come hell or high water, my family will be living under the same roof again, before Christmas, even if it is some short term lease apartment.
(You know, the kind we could have gotten back in July, if some people had been honest about their loan requirements.)

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