When it rains it DROWNS us!

I will try to make this one short since all my post seem so long. Tuesday morning I got a call from our Broker guy saying that money bags Josh makes to much money and his recent raise put us over the income eligibility by $1,900.00. Are you serious! And here I thought the whole getting approved for our loan was going so easy and smooth! HUGE speed bump! Now this is the loan that has a 100% financing and no PMI. It was a freakin' awesome loan! So needless my heart dropped and I began to panic at the thought of us not getting the house we LOVE! We are just over a week before our close date and he is telling us this. We had two options: 1) We could walk away from the house and the money we had already put towards it or 2) We could switch to a FHA loan. The FHA loans requires a 3.5% down payment and we would have to deal with PMI. Oh, and to top it off our interest would go from 5.25% to 5.5%, because we are switching loans and the rates went up over the past several weeks. So I call Josh and lay on the news. He is pissed at first! I mean hot. He could have killed our broker. There was some miscommunication and number figuring between the broker and the underwriters and the underwriters didn't see it the way our broker did. So once I explained our options to Josh. BTW this is all happening while we are at work. Josh is headed up to Nebraska and I am in the office. It is always fun to make life decisions over the phone! We decided to switch loans. Now I am frantic, because we have to come up with a nice chunk of money for closing costs and our down payment in a week! Crap! So Mark, my brother, comes to the rescue. He is giving us a nice chunk of the money as a "gift". Thanks Sparky! So the underwriters need a ridiculous paper trail of where this money is coming from. So Thursday afternoon I met Mark at the bank to get all the statements from each account the money had touched. It was a little excessive, but hey we got to do what they ask in order to get our loan! Josh later told me that he was so upset about the news that when he stopped at a gas station on his way to Nebraska he almost bought some chew. I asked what made you decided not to and he said the cheapest kind was like $5 for one can. LOL! I am influencing him! I love it! So Josh still is not chewing! We are still looking at a June 12th close date. Our broker says it will be very tight, but is still possible. The earliest we will know if we can close on the 12th is the 9th and the latest is the 11th! Lord please let us close on the 12th!

One last item! Thursday, May 28 when I was one my way home from work, not even one block from my office, a mustang rear ended me. No one was hurt. In fact the mustang had more damage than my tahoe. So on top of all the house drama I am dealing with getting my bumper fixed by the other driver's insurance company! It has been one hell of a week for us! I hope next week is much better and full of good news and not bad! Guess this one wasn't so short! I will work on it!