Ok...so many of you probably know that my offer on a house was accepted! Yeah me!!! Well what I found out today is not so exciting. Let me start off by first saying that I have a 40 day escrow and it started on April 13th and ends May 20th and I have had my house inspection and my electrical quote and I'm just waiting on May 20th.
Well today I learned this was not the case! My house was appraised at $199,000 but the bank only wants to lend me $178,000. This is due to the fact that the seller bought the house FHA and flipped it and then is trying to sell it and she has refinanced it with the FHA...I think. That or she bought the house and since she has not owned it for 6 months, that is causing the issue. All I know is IT'S NOT MY FAULT!!!! Ok so I'm a little disappointed and I hope she can bring down the price of the house.
The other option is to go with a different lender. All I know is I really like this house and I am praying it all works out. With only 20 days left...it better be mine! :) Well pray that it all works out.
Hey Desi Ray Ray,
ReplyDeleteDont worry, you will get your dream house, just be positive and start visualizing that you have already moved in this house. That would be the best "Secret" which will make your dream come true.
I also started my new blog so if you find time, please check this out http://whatdesiwant.blogspot.com/
I am a new blogger but I have lot of good stuff to share with people. Hopefully, it will be interesting.
Good Luck,
Shilpa Kadam.