Cristina and I bought our current house back in June. Actually, we were technically homeless for 4 days. We close on selling our old house on June 20th but Wells Fargo delayed the closing of the new house until 4 days later. We were sure our credit was in order. Our loan officer was confident everything would go thru but over and over again they asked for more and more documentation. At that time everyone involved in our loan process couldn't understand what was going on.
Now almost 4 months later the world has learned what was brewing under the surface in the home market. Loans are ALOT harder to get now as the world-wide credit crisis expands.
Here's a short video from the local Channel 11 news regarding the market conditions.
In short, I guess I feel lucky that we got the house when we did. Any earlier and we wouldn't have paid off a few bills we had so we wouldn't have been able to qualify for the loan. Any later and we would have gotten caught up in this current crisis and not have qualified for the loan. Timing is everything.
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8 comments:
Yessir. Home loans. Rain dances. Timing is everything.
Strange: The word verification to post a comment can be quite a few skinny letters or a handful of fat letters, and now I see fat letters.
continued...skinny letters = 7 letters...fat letters = 5 letters
wait...now i see larger skinny letters = 5 skinny letters
great...i put my cursor in the word verification box and i see the scroll arrows on the side...15 "word verificaion" options came up when i scrolled
exactly...i need a life
7 seems the maximum number of letters
that's it
i quit
i promise
HOLD THE PHONE...blogger is fighting back...8 !! ... count them 1 2 3 4 5 6 7 EIGHT letters required on this one...
and i better quit or this will lock up and all will be lost.......................
they *make* this addictive by offering a new comment window each time...it's all THEIR fault...a blank window is tooooo tempting!!!!
save me
somebody please save me!!!!
five letters this time btw
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