Saturday, July 28, 2012

What's held up the closing process for so long?

Our closing was scheduled for May 31st. 

What's today again? 

July 28th. 

We are not living in that house. 

We found out less than 1 week before closing that our lender, was pulling the loan out from under us. The reason? I work as a government contractor. Periodically the contract for my position goes up for bid and I may or may not get a new employer when that happens. My contract went up for bid on May 12th. Just a few days later our lender sends me a form to fill out- Verification of Employment. My contract was not awarded until May 17th. Unfortunately, that meant that I was not working. Worst yet was that my doctor had put me on bed rest in fear that I was developing Preeclempsia. My due date was June 7th so it was decided that if my position was to start before my due date, I would not be returning and that I would be taking an early maternity leave. This is why our lender pulled the loan. I could not provide a pay stub with the new company's name. The new company wrote our lender a letter verifying that I would in fact be returning to work, for the same pay, 6 weeks after I delivered. This still was not good enough, and we discover this 5 days before closing. If this has ever happened to you, you know how frustrating it is to pack up an entire house, give your 30 days notice to your landlord, and have everything switched to the new address.

So here we are. Our beautiful Son graced us with his presence June 6th. We've since unpacked essentials, repacked, and unpacked again discovering we need more toothpaste or shampoo than we thought. 

Late June we got the news from our realtor that there was another accepted offer on the house. Apparently it was an investor who decided shortly after putting in his offer that he no longer wanted that property and moved on to another after the home inspection. 

That weekend we put in our own offer on the house. We were rejected. I still do not know how the company that owns the house (previous owner relocated, it now belongs to the relocation company) knew that I had not returned to work, but they stated that they would not be dealing with us until I had received my first pay stub.

Just yesterday, we received an unexpected call. They want us to put our offer back in and have the contract ratified while waiting for that pay stub to appear.

I must say, at this point, Do I love this house anymore? Maybe I just feel spiteful for the mess we've been put through, but it's hard to feel like this house is worth it anymore. I can't find a lot of information about similar experiences so I hope someone can find solace that they are not the only one if they find this blog. 

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