Yes. You read right. Wasn't.
We did not get the house. And we will not be purchasing a home for another year. Instead, we will be moving out of our current apartment, and moving into another apartment (one that is better all around- if you are moving to DE, I do not, in any way, recommend Cavalier Country Club Apartments, for a host of reasons!).
What happened? Simple enough, HUD and FHA changed the rules on July 15th. They did it with no notice, and because of the changes, Brian doesn't qualify for FHA anymore. Simply put, he's a 1099 tax form employee, and you have to have been a W2 tax form employee for at least a year.
It's heartwrenching. It's maddening. We had gone through with closing and the inspection, and the mortgage broker waited almost 2 weeks to tell us- something that really got under our skin. Needless to say, we won't be using him in the future. He cost us a ton of money that we wouldn't have had to put out if he had informed us as soon as he knew and understood the rule change. Our wonderful realtor, Lauren, contacted another broker on our behalf, and that one tried and tried to get us through. But when FHA says no, it's a no. The Kicker, with a capital K? The house we were going to end up in was the second house that we looked at in the whole process, back in May. If we had done it then, we would have sneaked in right before the rule change.
Am I mad? Absolutely. I wonder how the government (HUD) and FHA can expect the housing market to be on the upclimb if they keep pulling the funding needed? What's the use in offering the tax credit? I have heard in the rumor mill several things: one, that HUD and the government will most likely be offering another tax credit next year, and most likely in a larger amount. I have also heard through the grapevine that because FHA/HUD put these regulation and rule changes into effect, it will more than likely put us into another 2 or 3 housing slumps; if you thought this was bad, nope. It will get worse from here.
So maybe this is a good thing. Maybe this is God's way of saying, good things come to those who wait. Not that patience was ever one of my virtues. But who knows. Maybe we will end up in a little larger house, that needs a little less work, for the same price or less that we were going to offer. Maybe we will be able to afford a little more, since hopefully by that point I will have had surgery and be able to work, providing more income. I am trying, really I am, to keep a bright outlook. It's not easy, but I am trying.
So we started the look for another apartment. We sure as heck aren't staying here. We found a couple more places that are nicer. They cost more, but what are you going to do? I guess that's the tradeoff. The biggest disappointment for me, besides the not being allowed to choose wall colors and decorate and all, is that Brian had promised me we would get a dog once we moved- a Yorkie, because I want one so desperately. Unfortunately, the complex we will probably move to does not allow dogs. So once more, I am left to wait. Brian said at the latest, it will be my wedding gift.
Please try to understand, that while I am trying to look on the bright side, it's hard. Really hard. Besides the disappointment in a dog, there's so much more. I was looking forward to creating a home with Brian- somewhere we would start a family together. And now, instead of investing the money of mortgage payments back into our future, we are throwing it away in rent, and it's a lot of money that we are throwing away. That makes it very bitter to swallow. VERY bitter.
I know God has a plan, and I have to trust Him. I realize this is a test, and that He will NEVER give me more than I can handle. But just once, it would be nice to be given a break and "win" every so often.
Showing posts with label inspection. Show all posts
Showing posts with label inspection. Show all posts
Tuesday, August 11, 2009
Monday, July 27, 2009
So Many Blessings!
SOOO much has happened since the last time I posted! I have been away, in NOLA with our church's youth (more about that in the next post), so I haven't had time to post until now, but boy, do I have exciting news for everyone!
WE FOUND OUR HOUSE! It's a 3 br/1 ba in Elsmere (the safe part), an end unit townhome. It needs some work, but out of all the ones we have seen, this one is by far the best in move in ready condition. The 3rd bedroom is basically a large closet, but it would work for a nursery for our first child :) It has a nice size yard, a basement, kitchen, dining room, and living room. It has a covered back deck on the back.
More than likely, with our tax credit money, we will redo the kitchen and bathroom. The kitchen is just too small for me to cook in (I can't wait!), so we will probably get rid of the wall dividing the kitchen and dining room, and instead do a country eat-in kitchen. This way, it will open it up, and it will provide for more counter and cabinet space. The bathroom right now is completely purple. Tub, toilet, sink, and tile- all shades of lavender. Brian and I aren't too fond of the colors, so we decided we will probably take some space from the bedroom next to it. That way, we can add some space to the bathroom and closet space to the bedroom- it will make it a tad smaller, but it's an okay size now, so it should be fine. Add a pocket door for the bathroom, and boom- all better!
We will repaint (obviously!), and we will be ripping up the carpet and refinishing the walnut hardwood floors that are throughout the house (sqee! I can't wait for hardwood floors!), and we will be installing new appliances throughout, since the ones there are original and look antique!
Brian and I are blessed in the fact that Brian has many, many hands on skills that will save us much money in the long run- his carpentry skills, along with all his other construction knowledge, will come in very handy! This way, we can start building equity in the house, but we don't have to put out much moola to do it- just a little (okay, a LOT) of elbow grease. We don't plan on staying here forever, but as a starter home, it's a great little house. It honestly made since to do this- our monthly payments will be around the same, if not less, as rent for the apartment. This way, we aren't throwing it down the drain.
We had the house inspection today- there are some things that need to be fixed, the big ones being the brick facade and the roof. Brian has the ability to do everything except the roof, and quite frankly, it's so much money that we just can't afford that expense right now. When we closed on the house, we told the current owners (it's an estate sale) that we would not nickel and dime them for every little wrong. The roof, though, is too major of an issue, and considering that there is a little bit of water damage inside/upstairs in the bedrooms (nothing active, and nothing that is concerning right now), it needs to be taken care of, and fast.
I have not heard about surgery...yet. We were told by the end of July, which being there's only a few more days left, hopefully we will hear something positive soon!
WE FOUND OUR HOUSE! It's a 3 br/1 ba in Elsmere (the safe part), an end unit townhome. It needs some work, but out of all the ones we have seen, this one is by far the best in move in ready condition. The 3rd bedroom is basically a large closet, but it would work for a nursery for our first child :) It has a nice size yard, a basement, kitchen, dining room, and living room. It has a covered back deck on the back.
More than likely, with our tax credit money, we will redo the kitchen and bathroom. The kitchen is just too small for me to cook in (I can't wait!), so we will probably get rid of the wall dividing the kitchen and dining room, and instead do a country eat-in kitchen. This way, it will open it up, and it will provide for more counter and cabinet space. The bathroom right now is completely purple. Tub, toilet, sink, and tile- all shades of lavender. Brian and I aren't too fond of the colors, so we decided we will probably take some space from the bedroom next to it. That way, we can add some space to the bathroom and closet space to the bedroom- it will make it a tad smaller, but it's an okay size now, so it should be fine. Add a pocket door for the bathroom, and boom- all better!
We will repaint (obviously!), and we will be ripping up the carpet and refinishing the walnut hardwood floors that are throughout the house (sqee! I can't wait for hardwood floors!), and we will be installing new appliances throughout, since the ones there are original and look antique!
Brian and I are blessed in the fact that Brian has many, many hands on skills that will save us much money in the long run- his carpentry skills, along with all his other construction knowledge, will come in very handy! This way, we can start building equity in the house, but we don't have to put out much moola to do it- just a little (okay, a LOT) of elbow grease. We don't plan on staying here forever, but as a starter home, it's a great little house. It honestly made since to do this- our monthly payments will be around the same, if not less, as rent for the apartment. This way, we aren't throwing it down the drain.
We had the house inspection today- there are some things that need to be fixed, the big ones being the brick facade and the roof. Brian has the ability to do everything except the roof, and quite frankly, it's so much money that we just can't afford that expense right now. When we closed on the house, we told the current owners (it's an estate sale) that we would not nickel and dime them for every little wrong. The roof, though, is too major of an issue, and considering that there is a little bit of water damage inside/upstairs in the bedrooms (nothing active, and nothing that is concerning right now), it needs to be taken care of, and fast.
I have not heard about surgery...yet. We were told by the end of July, which being there's only a few more days left, hopefully we will hear something positive soon!
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