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help...
How do you keep your Sanity through all of this house stuff? We are at the spot of writing LoX and all that stuff and sign the disclaimer papers for our loan application.... I feel like our Loan person is an idiot. She spelled our last name wrong on my part of the signing. Then on the LoX list she put the wrong dates to explain things for one of DH's student loans. So I was freaking out bc we are way way UP to date on that loan. Then she takes yesterday and today off so I am dealing with another person and I like her alot better.
I have also have this issue. DH and I are rethinking this. We already have money in from the inspection and we've already paid for the appraisal and of course earnest money. I keep thinking "Do we really have enough money to survive after everything is done" But if we back out before we even know about the appraisal we lose the earnest money. I hate this. Why are we getting cold feet now?!?!
Re: help...
MH and I are (hopefully) closing tomorrow. We went though a six-month short sale process before this and finally lost patience and bailed out. Now we're having problems with the bank and our closing's been delayed by a week so far. Our mortgage guy made a joke about us "setting some kind of record" since we first met with him in November 2010 and haven't bought a house yet, and I wanted to reach through the phone and strangle him.
We've gone over our numbers a thousand times and we're 100% sure that we have enough money for the down payment, closing costs and lawyer fees, furnishings, leftover money at the end and an emergency fund if one of us loses our job for a few months, and we're STILL saying, "Can we really afford this?" If you are absolutely sure that the numbers work out then try to relax. If not, then it's FAR better to lose the appraisal/etc. money now than to get stuck with a house you can't afford.
It's good that you got a new loan person. Stay on top of them! We had zero problems in this whole process until the day before our original closing date, when the bank started screwing everything up. We thought we were in the clear earlier today to get a closing tomorrow, but then the bank put today's date on the paperwork and now we're waiting for them to re-do it. Ugh. So keep contacting them and make sure you have all the paperwork you need. CC your realtor and lawyer on all e-mails and have them go to bat for you if necessary.
The numbers thing...its not just you. Our mortgage with taxes and insurance will be less then our current rent payment. But everytime I think about writing that check at closing it makes me rethink everything. I just sit and go through the numbers again and remind myself "yes we can do this" and that "yes this is the right decision."
I think cold feet are pretty normal for most of us.
October 13, 2012