Wednesday, May 25, 2011

where does the time go?

I'm almost finished with Happy Birthday. As soon as it's off my hoop and ironed, I'm going to put it away for a little bit and start on the three part mystery from With Thy Needle and Thread. I'm all ready to start. But I think it's smart to at least finish the block I'm working from Anniversaries from the Heart.


I'm still working my house in Gurnee and it's been so up and down I can't stand it. Late last week I received notice that Bank of America said my offer was the correct amount and miracle of miracles on Monday they approved my short sale! Not two hours after finishing my happy dance I received a call from my agent. The seller is despondent over losing his house (which by the way he has been living in for three years without making a mortgage payment) and has decided not to make the five fixes that FHA has required before they will approve my loan that he agreed to do five weeks ago (shame on my agent for not getting it in writing). So now I'm back to scrambling. I have asked if the seller will clear out for one weekend day so I can go in and make the fixes myself so I can get my loan. They are small - so small as to be ridiculous - but they must be made. I figure they will cost less than $100 for all five and take only a day. Mostly scraping some pealing paint and some repainting of the outside window trims and deck. One bathtub handle needs to be replaced and two electrical outlets need to be switched to GFI outlets. The fence in the backyard needs a few boards replaced. That is it! But FHA is holding all the cards and I don't have enough money for a down payment to go with a conventional loan. I haven't heard anything yet and once again I'm being held hostage and no idea what is going to happen. I just want a house! How hard can this be? And the reality is I'm helping the seller out by doing the short sale - he is avoiding a foreclosure which will be reflected on his credit for 10 years! The short sale falls off after 3 or 4 years. And he won't be evicted - he can move out in an orderly fashion. If you had small children like he has, what would you do? I just don't get it.


5 comments:

Joanie said...

I'm so sorry for your house woes. We went through a similar situation when we moved into this house, the wait and the worrying is agonizing. I feel for you! I hope the seller comes to his senses, do you think his agent (or your's) could talk some sense into him? He needs to be told gently that letting you have the house is the best way he can move on with as little damage to his financial health.

Love your Anniversary's piece too. Isn't stitching such great therapy?

Alice said...

I hope your seller grows up. I also hope he doesn't get vindictive and trash the place on the way out. I'm sure he has his woes, but seriously... three years of no mortgage payment? That should have helped.

Beautiful stitching.

valerie said...

Sorry to hear about all the housing woes. Just think though, if it all works out, you'll be a homeowner! That's huge!

Great progress on your AotH! I had to take a break from mine too. Sometimes, you just need to pick up a different project.

mdgtjulie said...

I'm so sorry to hear you're having house problems. I will say a prayer that things work out for you. And grats on your progress. Can't wait to see your start of the mystery sampler!

country stitcher said...

Sorry to hear about the house problems, hopefully it is resolved soon. Your stitching is gorgeous. Will be looking forward to seeing your mystery sampler as you get started on it.
Happy Stitching
Denise