I am so sad....

Valentinegirl Posted: Jun 29, 2004 07:13 AM

I am so sad....

Our lawyer told us yesterday that we probably won't close before we loose our apartment and our interest rate. I am so sad right now. We are going to have to put our stuff in storage, move in w/ my MIL and our mortgage will go up about $100 a month w/ the current rate. They are trying to get the sellers backruptcy papers done asap but its not looking good. I have asked my landlord to stay an extra 2 weeks already til the 12th and we extended our rate 3x already for 3 weeks. We can't extend it anymore after this. I would have never thought this could happen. We have to close before next Friday to avoid all this. Thanks for listening.

091804bride Posted: Jun 29, 2004 07:18 AM

Re: I am so sad....

I am so sorry you are going thru this. I know this probably won't happen, but the seller should have to lower the price or something for all that you've been through b/c of them.

kpny622 Posted: Jun 29, 2004 07:30 AM

Re: I am so sad....

so unfair. it's like, when you go looking for houses, sellers won't even consider you if you don't have a mortgage approval and cash in hand. but nobody can ask the seller to see their financial information! so sorry.

janwinterbridejoy Posted: Jun 29, 2004 07:35 AM

Re: I am so sad....

im so sorry karissa, just think postive it will work out in the end. ill keep my fingers crossed.

franksbride Posted: Jun 29, 2004 07:38 AM

Re: I am so sad....

Oh Karissa, I am so sorry that you are going through this...I would want to cry and scream too!!!

I know everyone says this...but try to stay positive...things have a funny way of working out...I'll keep my fingers crossed for you!!!!

Bride2B93 Posted: Jun 29, 2004 08:30 AM

Re: I am so sad....

I am so sorry!!

tjspidur1 Posted: Jun 29, 2004 08:35 AM

Re: I am so sad....

We lost our rate three times with it - I don't know if this is your forever house but maybe you want to consider a 5/1 ARM loan. Plus get on the phone with your mortgage company today!!! Rates could be going up as early as Friday - Fed is meeting today! Chin up! It will happen!

Valentinegirl Posted: Jun 29, 2004 08:37 AM

Re: I am so sad....

Thanks everyone. I really can't believe this might happen. I know it will work out in the end but right now its hard to be happy. I'm trying to see past the bad and be happy we will eventually be homeowners.

sept20yay Posted: Jun 29, 2004 08:45 AM

Re: I am so sad....

Posted by tjspidur1

We lost our rate three times with it - I don't know if this is your forever house but maybe you want to consider a 5/1 ARM loan. Plus get on the phone with your mortgage company today!!! Rates could be going up as early as Friday - Fed is meeting today! Chin up! It will happen!

I second this! Definitely look into the 5 and 1. If you decide to stay, you could always refinance. Where you planning on staying here for 10 years? Look into the 10/1 arm. You still have options which will aloow your monthly payment to be low. So sorry this happened!

Jan05Bride Posted: Jun 29, 2004 08:51 AM

Re: I am so sad....

swags1016 Posted: Jun 29, 2004 09:22 AM

Re: I am so sad....

Karissa

I wish I could say something to make you feel better I am so frustrated for you. I cannot believe that based on the circumstances that there is not some kind of compensation for you. You are doing nothing to hold up the process and it is sad that you have to lose your interest rate because there errors.

Nikki10-12-03 Posted: Jun 29, 2004 09:25 AM

Re: I am so sad....

I am so sorry Just think you will not be there for long

Kriss2c Posted: Jun 29, 2004 09:36 AM

Re: I am so sad....

I'm sorry that you are going through this.

I know it's more money per month, but with the higher interest rate you can write off more on your yearly taxes.

tina_cuse01 Posted: Jun 29, 2004 09:45 AM

Re: I am so sad....

Karissa, So sorry - this sucks. Is their any repercussion on the sellers?

Valentinegirl Posted: Jun 29, 2004 09:49 AM

Re: I am so sad....

Posted by tina_cuse01

Karissa, So sorry - this sucks. Is their any repercussion on the sellers?

No, there isn't. Thats the sad part too. We can back out I think, thats it and loose alot of $. They are paying $1000 for our rate extension fee, which we probably did for nothing cause we will loose the rate soon. We are sticking it out.