THEY PULLED THE PLUG!

WTH? Really?


loooong story short... a few weeks ago, we switched to 203k loan. Told the transaction coordinator of our new game plan. He said to proceed with the 203k and he'll let the asset manager know that we will need more time to close. He said if anything arises, he will let us know. We didn't hear anything so we thought we were good to go! Per contract, we had until 3/7 per verbal agreement, we were given the okay to move forward. Anywho, they pulled the plug from us last night. I am devastated. I've worked too damn hard on this and we were ready for underwriting come Friday! Soooo fricken close!


The listing agent told us to resubmit our strongest offer with all of our footwork.... WTH. I can't even stomach this...


We will be resubmitting everything to include our bids, PG&E, appraisal, home inspection and a higher deposit. I'm hella shocked, I'm hella sad, I'm fricken furious!

Posted on March 9, 2011 at 1:55 am
Jaryce21
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Jaryce21

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(14) Comments

Kaytana17
15
07/17/2010
Kaytana17

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That f*cken sucks. :( I'm sorry Jaryce...I hope it all works out and you guys get the home you want!

Posted on March 9, 2011 at 3:41 am
alisonandjake
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03/21/2009
alisonandjake

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OH MY GOSH!!! WTH?????????? I am SO SORRY you are going through this...you were SO DAMN CLOSE!!! I am praying for you that this goes through...hang in there :-(

Posted on March 9, 2011 at 4:07 am
GatorBride
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GatorBride

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What? I'm so sorry, Jaryce! I don't understand all that the 203k entails, but it sounds like you had done a ton of legwork! That sucks :( I hope you can still make it work - fingers crossed for you!

Posted on March 9, 2011 at 4:28 am
Jaryce21
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Jaryce21

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UPDATE:


Just got off the phone with the broker of the listing office. (i, know, right. I'm crazy) He said he was happy that I called. He said there is a very good chance they will accept my offer again. we just need to write a really good letter explaining to them know where we stand and that FHA has already approved us. They will talk to Fannie Mae. He says this happens a lot and Fannie Mae does accepts resubmissions. He said we HAVE to submit second offer ASAP to make sure we get in first.


on another note:


i decided to look again and to my surprise... the house we made an offer on prior to this home (remember.... we were the back up offer) is back on the market! But at 30k more than the original listing. We've been talking with the agent all morning and she said the idiot appraiser over appraised it waaay more than todays market market value. The bank said they would accept a 3rd party appraisal but we'll see.


To say the least... we're submitting 2 offers today.


*** i can't even believe Im here right now saying this. But I REFUSE to sit on my pitty pot and cry. Gotta go get em.***  

Posted on March 9, 2011 at 5:25 am
MKCalderon
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04/25/2010
MKCalderon

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*** i can't even believe Im here right now saying this. But I REFUSE to sit on my pitty pot and cry. Gotta go get em.***


 


That's the spirit!!! Goodluck, hopefully this will all end very soon!!

Posted on March 9, 2011 at 6:59 am
alisonandjake
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03/21/2009
alisonandjake

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You go girl!!! Crossing my fingers and toes for you!

Posted on March 9, 2011 at 7:27 am
daluvelynic
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09/02/2012
daluvelynic

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You go Girl!!! Go get em Your house is out there and you will get it! Love your SPIRIT!!!

Posted on March 9, 2011 at 7:36 am
MaineBride
5
09/04/2011
MaineBride

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Sounds like you are on top of it! Hope everything works out, you have been through enough already!

Posted on March 9, 2011 at 8:57 am
Jaryce21
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Jaryce21

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thanks girlies for all your encouraging words. On my way to the loan office right now! =)

Posted on March 9, 2011 at 9:05 am
em724
3
07/24/2009
em724

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go get 'em & good luck!

Posted on March 9, 2011 at 9:07 am
prbetsi75
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05/08/2010
prbetsi75

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good luck!!

Posted on March 9, 2011 at 1:13 pm
MsMac
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01/02/2010
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Wow. What a nightmare. Hang in there- it will work out.
Posted on March 9, 2011 at 1:35 pm
KiwiGoBride
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08/14/2009
KiwiGoBride

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Ugh.  we had our loan fall thru the day we were scheduled to close!  We were trying to use DH's VA loan, but they were so strict that the seller didn't want to deal with them.  (although, all along they kept telling us they were going to work with us.) 


We ended up going 203k and closing 6 weeks later.  It was ridiculous.  We put our offer in on January 3 and due to all the b.s. involved we closed at the end of March!

Posted on March 9, 2011 at 11:42 pm
Jaryce21
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Jaryce21

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kiwi: do you mind sharing a little about your 203k loan? What did you get fixed? Was it a crazy price tacked onto your mortgage?

Posted on March 10, 2011 at 1:50 am

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