Wednesday, June 25, 2014

The Housing Saga: Financial Letters and Homes

I'm breaking this up into multiple posts to allow you all who know the pieces to read what you want. So after we renewed our lease we called our agent and gave her our timeline. She nicely gave us the number of a financial guy and said to work with him. We contacted him, he ran the credit and gave us what we needed to work on and said we could re-run it in April and proceed from there. We did our work and I called Mr. Finance Guy in April. He said we were days away from running the credit, something about it shouldn't be checked too frequently, honestly I am not a financial person so I'm going with him on this. Well...... he never checked it. It took me over 2 weeks to get back in touch with him and then he tells me he never did the second credit check, mind you it's May at this point and hubby and I are thinking we need to get moving!

In the meantime, we had called our real estate agent and she said she wanted a letter from Mr. Finance Guy that we could take with us house hunting. He wasn't going to write the letter until he ran the credit. At this point hubby and I felt like we were running in circles. So finally Mr. Finance Guy runs the credit and says it looks good to go. We call the agent and give her the weekend that we are available to go house hunting. She says lets go and starts making arrangements, but then we hit a snag. The listing agents don't want our current pre-approval credit letter, they want a pre-qualification letter to even SHOW us a home. Well crap! We don't have that yet, because essentially to get that you send in all your paperwork like you are applying for a mortgage. Crap again! And to give you a time frame this all happened at the end of May, beginning of June.

So Mr. Finance Guy says gather this boatload of paperwork and we will submit it to the underwriter because you have a complex case. Yeah.... like we don't know that. So it went off to the underwriter and we wait.....

Because we can't just wait and envision ourselves being homeless hubby and I have been dragging all 4 kiddos to open houses every Sunday afternoon for the past 3 weekends. When the open houses are done, we then drive by all our homes that we have saved. Are you stressed yet? Because hubby and I sure are, and oh by the way, our nanny is pregnant and her last day of work is August 8, so on top of housing crisis we have to find a new nanny.

1 comment:

  1. I hope you managed to get through this predicament. The house-buying process can be stressful and frustrating, especially in the first stages. Let's see if the underwriters will approve your letter soon! It might be in your best interest to consult with real estate experts or someone knowledgeable in this field, so that the process will proceed faster and more smoothly. Good luck!

    Amos Daniel @