adventures in homebuying...

[Sk8r]

Well, I always expect hitches in the homebuying process.

But...

Today was wilder than usual. 1) a call from our realtor that we have to rush down and sign two addenda. Not bad. Expected.
2) a call from our lender saying we're 200.00 above the annual income limit for the 5.25 loan program we'd been told we absolutely qualified for, which is going to cost us .25 more in interest per month---and meanwhile he needs copies of those addenda. 3) so we rush down there to sign and lock in our interest rate, and we need to buy down 'points' to get the rate as low as we can; and the investments we count on to make the downpayment---guess what?---are in the stock market.
...which just hit a multi-year bottom today.

So we don't know where we are. We're hysterical. But we just signed and committed to buying.

Having my second Scotch after a Day of , I'll tell you.

[JR719]

Have a third and "think happy thoughts"!

[BigSkyBart]

Sk8r,
I think you already summed up your day in your closing

If anything CAN go wrong, it will, and at the worst possible moment."---St. Murphy.


Hang in there, it will all work out & be worth the headache & heartache

[Sk8r]

Bless you all, we'll make it. We're not sure how deep in the [money] pit after today, but we'll make it. Ever seen that movie, The Money Pit? One of my faves. Been there, done that, got the t-shirt---and re the 200.00 over annual income limit, I guess we can be duly grateful that we're making that much and that someone [sob] who needs it more than we do will get our slot. There are worse problems in the universe. We're just hoping we didn't take too bad a hit today when we ordered our savings liquidated in a crashing market we knew nothing about when we did it. [sob.]

[JR719]

Feel your pain, I took a hit in a market slump too. Eventually you forget about it until someone posts the same hit. then it's time for a few drinks and a tear or two.

[ReefWreak]

I'm with you guys on the market thing....

Well, as far as your overage of the annual income thing, it's like my dad always says, that he is happy to pay more in taxes, because the more you're paying in taxes, the more you're making.

My family got shafted when my parents bought a house for my dad and I to share in Miami, and before he put it in my name to homestead it (lock in a fixed increase in tax rate), they upped the taxable value of the house by 50%, so now we're paying out the bum in taxes. Fortunately we finally homesteaded it, so we're now locked in and won't get shafted if it gets re-evaluated again...

Best of luck with your house-purchasing process though. I'm sure once the swelling goes down, it'll be an enjoyable experience in the new residence :)

[dc]

Bummer on the market part. But you are getting that much closer to being there. Did I tell you how much I hate moving? :D