Saturday, February 23, 2013

I am absolutely devastated. We heard that we were all set to get the house. Papers were signed we were told yes all looked good. Then we found out that the listing agent submitted the offer in the wrong way. Because there are two banks involved in this short sale the FHA ( reverse mortgage loan) will not pay the second. They will not allow anyone else to pay the second. The bank will not reconsider adjusting the papaerwork. So that is pretty much it. After all this time and using our precious down payment money in rent, plus having to take the reverse mortgage qualification test a second time and paying for that. It is also extremely hard to find a house with land in our price range. An option right now is to buy a house with out land and board the horses. I just can not believe that this has happened when we waited so long and were within a few days of getting the house.

Sunday, February 3, 2013

The latest news now is that the house has another lending intitution involved. So there are two banks involved. So the bank with the most money loaned out has to settle with the second. Surely any day now we will know. They say short sales are not for the faint of heart. It has now been over three months since the first papers were signed.
In the meantime the weather has been rainy, an now warm and Spring like.  We have had some amazing sunsets.