(Closed) Ugh. What a mess. Must….vent….

posted 8 years ago in Home
Post # 3
Member
1330 posts
Bumble bee
  • Wedding: July 2011

wow! kudos to you for keeping ur head up girl! things’ll wrk out fine ๐Ÿ™‚

my kitchen ceiling has been leaking….turns out where the main roof meets the lower roof, the flashing is popping off cuz the previous owner did a half-a$$ job getting it redone and you’d think it’d be an easy fix, but nope….to top it off, i’m in foreclosure (whole different thread a posted a few weeks back)  so its really frustrating that i have to put money into a house that won’t be mine anymore…..

it is what it is thought…i’m keeping positive and looking forward to the future FH and I have together, including starting our adventure looking for a place together after i clear my storm for lack of a better term…lol ๐Ÿ™‚

Post # 4
Member
852 posts
Busy bee
  • Wedding: May 2011

We had a similar issue with our house situation. Fiance and I were also not married (not even engaged!) when we began, but our realtor was very upfront about the financial situation – mostly that as a teacher, I didn’t qualify, but since my Fiance did, we’d basically “hide” my info and go through the process as if I wasn’t there, until it was time to sign the deed (in other words – I’m not on the loan, but I am on the deed. The loan becomes “mine” when we get married – yay). The problem came when my in-laws offered to help us with the downpayment (to this day, I am still so.very.grateful for their help. They are so modest, so for them to gift that to us was a HUGE deal, and was kinda like their way of letting us know that they approve of us and the as-yet-unofficial wedding that we all figured was coming at that point). The problem was that they don’t keep their money in the bank – they are very old-fashioned and keep it in jars and various places around the house, so there was no way to “trace” it, which the lender said was very important on all money (this also explains your rant of the random $200 – I’ve had several friends who’ve been asked about random deposits and checks from up to 5 years prior to purchasing the home – it’s not actually rare, but it is VERY frustrating!). So I hope you don’t feel like they are being too critical – they really do have to track ALL of your finances from the past 5 years (our lender said it’s to basically make sure that all the money can be traced so they know the home isn’t being purchased through “less-than-reputable” means).

I’m really sorry that you are dealing with this stress so close to your wedding, but I am glad to hear that others are being accomodating to you in your time of need. I promise that once you have the house and you get settled in, all the crazy drama goes away, and it will be SO.FREAKING.WORTH.IT. The way I feel about my house is indescribable – worth all the crazy repairs, sprinkler issues (still doesn’t work, old owners won’t tell us how) – but it’s ours and we can change anything we want ๐Ÿ™‚

Post # 6
Member
948 posts
Busy bee
  • Wedding: May 2011

UGH!  What a pain!  I’m so sorry you have to deal with this!  I’m in the same shoes as your Fiance when it comes to the additional income.  For the past two years I haven’t noted the my non-taxable income.   I really hope we don’t end up in the same situation.

Sending a hug your way.

Post # 7
Member
3762 posts
Honey bee
  • Wedding: May 2010

Basically the reason they want to “trace” your money is to make sure the money isn’t another loan.  If you “secretly” took out a “loan” of $5,000 that suddenly appeared in your bank that “lender” could claim rights to your deed.  That is why you do a title search. 

Post # 8
Member
3241 posts
Sugar bee
  • Wedding: May 2011

Arrghh.  Home buying/selling is way more stressful than wedding planning. I didn’t have anywhere near the drama you are experiencing buying my townhouse, although the seller did decide that the stove was hers, so when I went to the final walk through there was a big empty spot where the stove use to be…..it did get resolved.  Selling the townhouse…..was more stressful because the person buying didn’t have their finances in order (and not because of things like you explain).  Just know things will calm down and you and your FH will have a lovely house to come home to once you are married! ๐Ÿ™‚

Post # 9
Member
6661 posts
Bee Keeper
  • Wedding: May 2010

I am so nervous to buy a house because of stories like these!!

Post # 10
Member
1137 posts
Bumble bee
  • Wedding: September 2010

Similar situation here.

My Darling Husband (FI at the time) couldn’t be on the loan because he is Canadian and didn’t have a social security number. Even though he has a great job and could buy our whole house himself, I had to be on the mortgage by myself. I couldn’t qualify by myself because I already owned two rental properties. Even though I had signed lease agreements and proof of rent on income tax statements, they wouldn’t let me claim the rent as income.

My grandfather agreed to co-sign for my loan. He has a TON of money in savings, but his only income is Social Security. The bank would only look at his income, not savings to qualify him for the loan. So we didn’t qualify! It was crazy. My Grandpa could have bought our house 10 times with his savings!!

I cried many, many nights thinking we were going to loose our dream house. Everytime it seemed like we had found a solution, something fell through.

Luckily, after switching lenders 3 times, we finally found one who did Portfolio loans (holds the loans in-house), instead of traditional loans which sell them to Freddie Mac or Fannie Mae and therefore make you fit into nice little buckets to qualify. The new lender looked at our whole picture and realized that we were more than qualified for a loan. We have been happily living in our fantastic house for a year now!

Keep your chin up. Where there’s a will, there’s a way!

Post # 12
Member
1137 posts
Bumble bee
  • Wedding: September 2010

Congrats!! 

Post # 13
Member
1205 posts
Bumble bee
  • Wedding: December 2011

So exciting–congratulations!

The topic ‘Ugh. What a mess. Must….vent….’ is closed to new replies.

Find Amazing Vendors