We’re supposed to be closing tomorrow, but we’ve had some setbacks. We had to add my dad as a cosigner, so now we have 2 cosigners and me on there, but we had to wait until my dad got his taxes done, which he did last week and the bank got all the paperwork this week, but now it looks like we’ll get the loan, but we will need to postpone closing for a few days or possibly weeks. This whole process is stressful and I hope we never have to go through this again. They want to know everything, they question every little thing, they even question your paychecks. Some of the stuff is common sense, but they want to be able to have a paper trail to see where all your money comes from. I guess the housing market fallout a few years ago caused the banks to be so thorough, but it just seems a bit overboard and unnecessary. In theory we should have a solid answer from the bank regarding a new closing date later today. Once I have that I can get insurance and be in the final stage of this thing.
Other than the house, I’ve been doing some stuff here and there on the site. You can now submit jokes, riddles, and recipes and I am working on a few other things. With these bumps in the road with the house I haven’t really been motivated to do much besides work and play video games. My Xbox 360 died so I decided to get a newer one, I had the day 1 edition, so a 20 gigabyte hard drive with no HDMI port. My new one has a 250 gigabyte hard drive and HDMI. It’s also black. I can’t really record from it the way I used to, but maybe once this house stuff is settled I’ll pick up an HD recorder to record from Xbox One and the 360. I already have to pick up a new HDMI cable for my PS3, I haven’t really used that much.
There’s a lot of things we need to buy, couches, wood, tools, cleaning supplies, lawn mower, cookware, etc, but we can’t begin buying it until we know without a doubt we have the house. We were under contract for another house back in October that we were all set to get, but the complex and the bank had a falling out and we bought some things for it, like a coffee table and some other things, then the deal fell through. We still have that stuff which will go into the new house, but we won’t be buying anything else until we know for sure. In theory everything looks good, we just need the underwriters to say we’re good to go for some date and then the price we will need at closing and then we will be set and we may go out and start purchasing this stuff, but not before then.
Oh gosh, I know this process all too well.
They try to stall you every chance they get and it so annoying. We had to send them pay stubs every two weeks until closing to keep our finance record up to date and we must have seen 20 houses, 4 of which we tried for and got outbid, before we found our house.
The road can be long and stressful but I know it will work out for you guys in the end! Just keep your head up!
I’m sorry to hear that there was another stall on closing the contract. Even though there’s another setback, at least you have your dad cosinging on the loan. The process of getting a loan sounds really tedious since they want every single document to check up on. It kind of makes sense considering how they don’t want to deal with fraud or people who can’t afford to pay back the loans; but it’s not fair to those who do have credibility.
Even though your 360 died, your newer one has more benefits that outweighs to old one. It’s a good idea to hold off on buying new furnitures/appliances until the house is secured.. Unless there’s a super great deal, maybe you can have an exception for that :P.
Hope everything goes well!
Ugh, I am so sorry to hear about the setback. That has been the story of my life for the past year, so I can definitely commiserate. I hope that the bank gets all of the paperwork in order and is able to get you the loan ASAP!
God, this bank would have made me go insane by now. I’m so sorry that your closing is still getting pushed back. I hope it gets cleared up soon!
That sucks! I am SO sorry about that. When my mom (who is the only person I know buying a house)was buying a house they wanted to know everything, too. Like… every single penny.
This kinda stuff makes me afraid to get a house, just because I don’t think I can account for every penny lol. I tend to just spend money like… whatever. I pay what I need to and blow the rest. Yup. I’m *that* guy.