I did promise I would tell you all about the super wonderful fantastic exciting thing that was happening. Except now it’s not happening, and that sucks.
I was trying to buy a house. Went to the bank, applied for a mortgage, the loan officer told me I was good to go. So I found a house, went to see it, confirmed with the bank that I was indeed good to go (I was told the proof of financing documents would be sent to me the next day), and I placed an offer. I was so damned excited, and the kids were psyched, and things were moving right along.
And then on Friday, late in the afternoon, the loan officer called me from the bank and said, “Sorry, no dice.” Um… what? I’ve placed an OFFER. I’ve got an INSPECTION scheduled. What do you mean, no dice??? Apparently, she had jumped the gun in telling me I was good to go, and I wasn’t good to go at all. Nowhere near good enough to go. I messaged a friend who happens to be a mortgage broker, and in about 20 minutes, he determined something the loan officer should have noticed straight off, before even submitting the application for the mortgage. I don’t have any established credit. No credit cards, no loans. I don’t owe anybody money, and I pay cash for whatever I buy. Apparently that’s a bad thing, but what can I do now other than retract my offer on the house and cancel the inspection?
So now we’re back to square one. I’ll be going back to my REGULAR bank. I had gone with a different bank because my office does business with them, and I’d developed a rapport with the loan officer from seeing her so often due to office banking. I’ve made an appointment with my regular bank to look into establishing credit and getting a bit of direction on what needs to happen if I want to try again in a year or two.
So it’s been a bit of an emotional roller coaster for the last three weeks. SUPER excited about the first house, then horribly disappointed when that one turned out to be a dud (Gorgeous, but VERY OLD house that needed a LOT of TLC and was VERY far away). Super excited when the bank said I was okay and I found the second house. Crushing disappointment when the bank said they wouldn’t loan me the money. A bit of a ray of hope with the mortgage broker, but not too much. Slight disappointment when that didn’t pan out. And now I’ve just been wandering around in a fog for the last couple of days, not sleeping, eating too much, and on the edge of tears pretty much constantly.
I need to get out of this funk, go back to the gym and start moving again. I feel like my life kind of crumbled there for a while, but now I’ve got to start putting things back in order and get back to being an adult. The worst part, I think, was how disappointed the kids were when they found out we weren’t getting the house after all. They hadn’t even SEEN the house yet (well, only in pictures online), but they were so excited at getting our own little patch of dirt that I really felt like I failed them when the bank called. But, we’ve lived in our apartment for ten years now, and I’m sure we’ll all survive living in it for a couple more years. And in the meantime, we can put ourselves on more solid footing so we don’t get tossed overboard the next time we decide to venture out into the scary world of real estate.
Make me feel better. Tell me your real estate horror stories!