Friday, January 8, 2010

Life As I Know It

October marked the time when life, my life that is, turned upside down. Well, o.k. not really upside down, but it sounded good in my head. Can't you hear the symphony in the background? Music is swelling... *looks around* You can't? Oh dear... Well, turn your volume up! ... still can't hear it... er... it must be in my head then. Oh GAWD!

Ok, actually let's step back in time just a little tiny bit more. We had a BIG, MONSTROUS move back in December of 2008. We moved, or were moved, from Idaho to Arizona by my husband's new company. I must admit the move package was awesome! They packed us, moved us, and unpacked some of us. We figured the home we were renting would be very temporary so we only unpacked what we thought to be essential.

There are pros and cons to this method of moving. First, if you don't unpack everything, then when its time to move again, you don't have so much to pack. However, if you don't unpack, you end up either buying what you need, even though you know that somewhere in one of the hundreds of boxes, you own said item, OR you end up digging through said boxes trying to find that one item... and then another item... and another. Ok, I think you get the point.

A 6-month rental turned into more & more. Finally, in September of 2009, our house in Idaho sold! Yay! We lost money overall in that sale, but we were able to pay the loan off with enough money to buy a cup of coffee when all was said & done. Ok, ok... Coffee is not that expensive! However, the amount of change we received was not enough to put a down payment on another house. So, I tucked it away for another day.

Now, we roll into October 2009. My Realtor here in Arizona takes me through about 5 different homes to chose from here, encouraging me every step of the way... assuring me that she is confident that even though we have NO DOWN PAYMENT, we can still buy a home. *Yeah, right* What are you smokin' Wendy?! Ha!

I found 2 homes I thought were nice enough & inexpensive enough, so I showed my husband. He felt the same way ... but he looked anyway. He liked my choices & after a very short articulation between the two of us *the amount of time that it takes to fall asleep* we'd made our decision. The following morning, my Realtor got the ball rolling to purchase a house.

Everything went so smoothly. The sellers were desperate to sell so they agreed to EVERYTHING, including repairing every little thing we asked to be fixed. I have NEVER had a deal go so fast & without SNAFUs from the seller (or buyer). This must be a gift from God, right?

My Realtor contacts the lender & tells him about our serious lack of finances. He in turn says, "HEY, NO PROBLEM! In fact, they'll end up getting change back when all is said & done." *oh boy, oh boy!*

Lender sets us up with a "Rural" loan & sends our paperwork to the underwriter of the first investor. We get turned down. Wanna know why? The company's move package put us earning too much! Yeah... I'm deflated now. My lender pats us on the shoulder & assures us that he will continue to press because he feels they are considering the package as continual income when it is only a one time thing. We press on.

In very short order, the lender sends our paperwork to a second investor. Again, the extra finances are the issue and were turned down again. At this point, we're doing the *Midas shrug*... Two down, what's left? Our lender informs us that come the first of December, his company will be licensed to do this kind of loan & he's certain he can work miracles for us at that time.

So, we all agreed, sellers & buyers, let's see what happens. So we wait for Thanksgiving to pass. December rolls in...The paperwork is processed... Yep, you guessed it... income is again the issue. But this time, the underwriter listens to my lender and agrees that the said move package should not be included. Yay! But wait... my husband just received TONS of OT at work and hey look, he's also received a bonus from his company for spending more time at work than at home.

Our lender sat in the underwriter's office explaining every penny of our "added" income. The underwriter finally agreed with my lender so, my lender sent all files to underwriter to sign. Ok... so WTH was she still not signing? WTH did we miss our closing date? Apparently, closing dates don't mean anything here. We missed our closing date! Yep... So the lender contacted seller to let them know more of what's going on! Seller, although I'm sure very uptight at this point, agrees to hang just a bit longer. I mean, what are they going to do, put the house on the market again? Sheesh!

The day before Christmas Eve, we receive an email! The underwriter has signed off, now we send to the Rural loan people to get your money! Yay?!?! Can they still reject us? Yes, they can!

Christmas was very stressful. Not only are we waiting to finalize our house, but my parents were here the whole week before Christmas. So we were trying to be hospitable as well. We waited to hear, but we were told we wouldn't hear until after Christmas. *obviously*

On December 28, 2009, we were contacted at 3 pm in the afternoon. "Get your butts up to the title company! If you sign today it will record tomorrow..." Both my husband & I take off from our separate locations to race to the title company before they close. It took 45 minutes to drive there, but of course, I'm out of gas... Ugh! I finally arrive shortly after hubby, its now about 4:15 pm... But we get in, & find they are waiting for us. Even the receptionist looks at us & says, "You must be the ..." we nod, sheepishly!

Rural loans have a lot of extra paperwork that you have to go through. It took an hour to sign all papers.

You'd think that the "recording" part would be fast... right? Maybe we'd get the keys by noon?? HELL NO! We almost didn't get the keys that next day. But my Realtor & our Lender both did a lot of pushing! By 3 pm, December 29th, my Realtor calls me... "Are you home?"

"Yes..." are respond, "of course where else would I be... I want my keys."

"I've been knocking at your door & you're not answering," she says.

OH CRIPES! I run downstairs & she's standing at the door holding my house keys up in front of me with a giant grin on her face!

We are now proud owners of this beautiful home!

4-Bedroom, 3-Full Bathrooms, about 2300 sq ft!

We are so excited to FINALLY be done with this very stressful chapter of our lives. However, this has imposed other stressors too. My business has had to take a back burner because so much was unknown. We weren't sure when we would be moving. All projects had to be delayed. So, my clients are not too happy for those delays. Thank you! Now my clients are all thrilled that I now have a new house... but they wish the move would hurry up so we can focus. I can't blame them! So, I want to thank all who have been patiently waiting on my life to settle down. We're almost there!



Honolulu Girl-Suz said...

OMG, I have tears welling up in my eyes.

I went through a move/purchase in 5/08, and my loan was with Countrywide. It was the same situation, but diff variables. Maybe a two month escrow, with what should have been 30 day, 45 at the most. Being that I'm a realtor, myself and have done loans as well, I couldn't fathom the delay. But then, Countrywide was failing and at the time merging with Bank of America and you know the rest... Money is tight to come by.

All in all, you and I are blessed that it went through and we now have our homes!

I am so happy for you!!

Brina said...

WOOHOO YAY YAY Congrats!! I am so happy for ya.

Aim4theNeck said...

Yay.... Now u just need to get in ur new home! Not long and u'll b wondering what all the stress was for. All the best in your new home :)

Hoku said...

You do have a Beautiful Home!