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Old 01-16-2011, 06:17 PM
 
Location: Chicago
102 posts, read 229,403 times
Reputation: 87

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I am waiting for my purchase to become a reality. Way back in October, my mortgage company was falling over their feet to get my loan. I was given my LSR, and even had the value upped in December. I made an offer on a Freddie Mac home that was accepted. The last sale price of the home was 265K back in '05, and I got the property for 95K and the price of repairing a fubared heat pump.

What is really pissing me off is that my lender is now dragging things out. The home is an investment property, but I do have people I know setup to lease the house from me. The rent will pay my mortgage plus give me some positive cash flow. I will ultimately move into the home in 2-3 years. I co-signed for two of my daughters on auto loans years ago to get them better interest rates, and the lender is looking at those. I also co-signed student loans years ago, and they are looking at those too. Why the hell didn't they question those back in October? I already paid the hope inspector, and the appraisal fee, so if things don't work out I'm out almost 1K. I also have 1K in earnest money floating out there.

I ame putting down 20K on a 95K home. What a hassle it is turning out to be. If I realized the trouble it was going to be, I might have reconsidered. Just venting.. I hope to know what the decision is this week!
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