(Closed) LOST the house A WEEK before closing

posted 6 years ago in Home
Post # 3
8576 posts
Bumble Beekeeper
  • Wedding: October 2014

I’m sorry! We’ve been in the same situation, we found our dream home, it was lovely! Pool, huge backyard, within our price range. We were pre-approved as well, and during the time between when we got pre-approved, and went to finalize, we paid off our car, and were no longer making payments so our credit actually DROPPED.

I was so upset. At the time I didn’t really understand how your credit can go DOWN for NOT having bills! Live and learn I guess.

I have since realized there are other homes out there that I love also, and I can deal with not having the first one we loved, we’ll eventually find another.

I wish you the best of luck!

Post # 4
3152 posts
Sugar bee
  • Wedding: May 2018

@SaltLife22:  Oh man, that’s so devastating. You were so far along in the process :(( I’m sorry.

Post # 5
7311 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

I’m sorry that you are upset, but this is the best thing that could have happened to you. If you cannot save up for a downpayment, then you are in no way, shape, or form in the right financial place to buy a house. Get yourself to a place where you are able to save for things other than the wedding, build up a healthy emergency fund AND a healthy house fund (for dp, closing costs, remodeling costs, furniture costs… basically whatever you would need it for), and then start looking again.

Post # 6
8444 posts
Bumble Beekeeper
  • Wedding: April 2013

@SaltLife22:  *HUGS* Sorry this happened to you, but at least you still have a wonderful Fiance and a beautiful wedding to look forward to.  Best of luck with the house hunt.

Post # 7
5956 posts
Bee Keeper
  • Wedding: April 2018

Oh dear, that’s so disappointing!  But I wouldn’t take it too hard, after all, getting a loan these days is only slightly less complicated than building an atom collider….and even people with shiny credit get caught up on some random rule…the good news is, there are a lot of houses for rent, and if you’ve got a landlord that wants to sniff at your over 35lb dog…just remind him that good renters are hard to find AND serve as a deterent to burglars and vandals, plus it shows responsibility and maturity.

Post # 8
2715 posts
Sugar bee
  • Wedding: September 2012

 That really sucks.  My H and I are looking for houses too so I can totally understand where you’re coming from.  But I’m with  @lovekiss:.  Losing the house was probably for the best.  If you can’t afford a downpayment, then you probably aren’t in a good financial position to buy a house.  Enjoy your wedding and then start saving for a house.  It’s annoying to have to wait, but you don’t end up with a house you can’t afford.

Post # 9
11747 posts
Sugar Beekeeper
  • Wedding: November 1999

@lovekiss:  +1

that sucks how disappointing.  It’s probably for the best though.  It’s nearly impossible to buy another house that quickly after a foreclosure (unless your buying in cash outright!) Were you aware that he had a foreclosed property?  

Post # 10
7647 posts
Bumble Beekeeper
  • Wedding: July 2012

Very disappointing. I wish you all the best for next year (and finding an even better home in which to share with FI). Keep being strong for Fiance and let him know it is ok and you will try again soon.

Post # 11
15963 posts
Honey Beekeeper

OH NO. I am SO sorry. You must be crushed. Hang in there!!! You have so many wonderful things going on in your life right now — try to focus on that. 🙂

Post # 12
10366 posts
Sugar Beekeeper
  • Wedding: September 2010

It sounds like this was for the best. It seems like you guys needed a bit of a reality check if you were trying to purchase a home less than 2 years after a foreclosure. Definitely do your homework next time around to avoid losing the loan to preventable circumstances. Honestly, the bank did not do what they should have done when pre-spproving you. They clearly didn’t pay very close attention to your credit reports if they allowed the process to get that far. Or else they knew it wasn’t going to go through and just wanted the appraisal money.

Keep saving. Look again in a few years.

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