I think we are going to lose the house we bid on....

Re: I think we are going to lose the house we bid on....

I'm so sorry to hear that. Why do you think so?

Re: I think we are going to lose the house we bid on....

because we changed industries and we have too many loans between us so our debt to income ratio is too high right now

Re: I think we are going to lose the house we bid on....

I am so sorry Shana!!!! I hope everything works out for you.

Re: I think we are going to lose the house we bid on....

Do you know when you'll know for sure about the house? I hope you don't have to wait too long!

Re: I think we are going to lose the house we bid on....

Sending you lots of house dust ... I hope it works out

Re: I think we are going to lose the house we bid on....

Thinking good thoughts for you!!!! I hope it works out

Re: I think we are going to lose the house we bid on....

So wait - then where are you living??? I thought you got the house & that's why you moved? Maybe I'm just confused ... good luck!! (where's the 'fingers crossed' emote-icon when you need it??)

Re: I think we are going to lose the house we bid on....

we are living with DH sister and her family, they did accept our bid, but we are having trouble securing a mortgage.


We'll find out from our last hope today if he can do ANYHTING.....

Re: I think we are going to lose the house we bid on....

Re: I think we are going to lose the house we bid on....

(((((((((((((((((((((((( )))))))))))))))))))))))

Re: I think we are going to lose the house we bid on....

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Posted by btrflygrl

we are living with DH sister and her family, they did accept our bid, but we are having trouble securing a mortgage.


We'll find out from our last hope today if he can do ANYHTING.....

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Gotcha!! Well, *mortgage dust* to you!!

Re: I think we are going to lose the house we bid on....

sending positive vibes your way.........
good luck!

Re: I think we are going to lose the house we bid on....

from someone who went through two years of hell with this process, i feel your pain, lots of house dust

Re: I think we are going to lose the house we bid on....

Sorry to hear that.

Might be a good idea to rent for a year... get yourself established in your new city with jobs/income/etc... and work on paying off the debts that your bank is frowning on.

I am surprised the owner of the house even accepted a bid without a pre-approval certificate. I guess the market down there isn't as hot as it is up here... as sellers can't be as choosy with their offers.

Re: I think we are going to lose the house we bid on....

If memory serves she was preapproved, but because her husband changed industries after the fact, the bank bugged out.

Preapproval doesn't always mean you will absolutely get a mortgage.

Shana have you talked any mortgage brokers?

Re: I think we are going to lose the house we bid on....

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Posted by Kriss2c

If memory serves she was preapproved, but because her husband changed industries after the fact, the bank bugged out.

Preapproval doesn't always mean you will absolutely get a mortgage.

Shana have you talked any mortgage brokers?

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the one mortgage broker that was jerking us around sent a snotty e-mail saying she can't help us now and what we would need to do to rectify the situation.

We are awaiting word from a bank that does it all inhouse

Re: I think we are going to lose the house we bid on....

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Posted by Kriss2c

If memory serves she was preapproved, but because her husband changed industries after the fact, the bank bugged out.

Preapproval doesn't always mean you will absolutely get a mortgage.

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You are right... but under most circumstances you will get the mortgage if you are pre-approved unless you have a change in finances. In her case she did.

But if she knew she was moving... that should have been brought to the banks attenton beforehand. It sounds to me like things were left out of the conversation between her and the bank. But hey... what can you do.

The only alternative you have is to shop around. If you feel that you can absolutely afford the mortgage payments even with all your debt... look for another bank to give you a mortgage. You may end up with a higher interest rate... but any interest rate is better than no interest rate. You can always re-fi in a year or two after you are more secure.

You also might want to move QUICKLY on this... as I am sure the seller is getting extremely restless waiting. I know I would be if I was the seller.

Re: I think we are going to lose the house we bid on....

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Posted by Kriss2c

If memory serves she was preapproved, but because her husband changed industries after the fact, the bank bugged out.

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Also... didnt she then say after the fact that the husband would accept a transfer of offices and stay with the same job/industry?

Re: I think we are going to lose the house we bid on....

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Posted by btrflygrl

the one mortgage broker that was jerking us around.............

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I think this statement explains it all in the end. Find somebody that will work for YOU. And make sure you are up front about everything with your move/finances/income/etc and I am sure they will do their best to help you out.