Thursday, June 21, 2012

Moving- Change of Plans

If you have read my previous posts (that are now deleted) I mentioned we were moving and posted pictures of the house we were getting. Well, we got some bad new last week that we have been trying to make work out but it didn't work out and we aren't getting that house.

It's such a long story but I will try to make it short.... back in the fall we got pre-approved to buy a home with just Aaron buying it and they said they wouldn't even look at my debt.  The reason why we didn't want my debt added is because I have 2 cars and this house in my name. They would see we already have a house and wouldn't give us a loan because they don't want people to buy and bail which we were doing. Well, this new house took 6 months to get approved to sale and once we got the approval we sent everything to our lender. Weeks went by with no bad news from him, we paid for a home inspection and were super excited to get this house. Last week he calls and says he can't give us a loan because they have to use my debt. He said months ago they weren't making him but now they are. When he called Aaron and told him this I just got sick but thought maybe someone else can do something. The next day we called other lenders and so did our realtor. After days of trying to make it work with 3-4 different lenders they all said NO because of the house we are in. A couple other loans we applied for wanted us to put way to much down and pay higher interest so it wasn't worth it. We are very upset, let down, frustrated and mad. Why did we go through all this????  Now, we are still moving because we are short selling our current home but we will have to rent for at least a year after this short sale closes before we can buy (so the lender said.)  Renting has me a little freaked out, Aaron and I have never been renters before. I bought my first place before we were even married. I don't know why I am so worried to rent, some things that worry me is not feeling settled in our home and our kids not feeling settled. Looking online for homes for rent I am not impressed about what is out there. But I have to keep telling myself....This all happens for a reason and renting for a quick year or so won't hurt me and renting will actually benefit us financially and help us get our cars paid off and get out of debt. Not only will rent be cheaper (if we would have gotten the new home or stayed living here) but also we won't be building a pool next year and won't put any money in this rental home. All that helps us a lot and I look forward to getting things paid off so when we can buy again we will be better off.  I knew there had to be a silver lining!

4 comments:

Sariah said...

Look in our neighborhood for rentals! We have a great ward...the rentals go fast though.Sariah

Karen said...

We've had to rent for awhile now after always owning a home...it's really not that bad, and when something goes wrong, we don't have to pay for it!!! It's nice to get things in order, and we know we will buy again one day, and in the meantime, home is where we all are together and where we make memories; it doesn't matter what walls they come in :)

English Cream Paws said...

Dang! I am humbled that through the chaos and disspaointment of losing the home, that you have found the positive in it. I am sorry that it didn't work out. We too are afraid to ever rent, as we have seen friends being pushed out of their homes because the owners are losing the home & pocketing our rent, or because they are short selling. So the advise I give is to try & find a home of someone you know perhaps or someone you are comfortable with. In the end, make it a matter of prayer. We may never get the answer we want, but our prayers are always heard. Your in our prayers :)

The Hermyzoo! said...

Tami, I can tell you after losing everything the only thing that matters is your family and that your all together. A home doesn't make a home a family does and you can do that anywhere. There indeed is a silver lining and in years to come you will be able to look back and see it so clearly. Good luck with where everything takes you.