Friday, March 23, 2007

When you think things can't get much worse.....

We took a little trip to Utah to see family and had a wonderful time. We were suppose to be moving TODAY so Kory and I came home wed. evening and left the kids in Hurricane with their grandparents. After we moved my parents would bring the kiddos to us probably next weekend.

We had stopped for gas in Flagstaff when we got the call. The bank will not allow us to move into the house until we close. (This is normal routine but we were told we could go ahead and move in regardless of the closing date.) Due to our idiotic contractor who has taken 12 months we were scheduled to close the end of March but is now the 1 st week in April (cross our fingers it's that soon). We have to be out of our duplex March 31st leaving us 7 days without a home. We don't know where are litttle family or our things are going to go.

It was at this point Kory and I thought with all the problems during the past 12 months it can't get much worse. But oh how it can.

Yesterday morning as I started to pack I got a phone call from our lender. He informed me that we were no longer approved for our loan (would have been nice if we would have mentioned this 2 weeks ago or maybe a month ago when in his words everything was coming along nicely.) We have been approved for 9 months. With the economy the way it is banks and lenders have changed some rules and regulations. A stated income loan use to require proof of employment for 1 full year with the current employee. Now the majority of loans want proof of 2 full years. Our company was established on June 1st 2005. This makes us 2 months shy of 2 full years.
So far he can't find a lender with a realistic rate.He did find someone but our rate would be over 9% and $2000 a month. I told him NO WAY!!! He would like us to work out something so that we don't close until June 1st. This now makes us homeless for over 2 months. We are not quite sure what we are going to do. Kory keeps saying we just need to have faith that everything will work out. I hope he's right.