I have to apologize for hardly blogging these past few weeks. With the exception of having to sleep on the couch, it has been absolutely great to have my parents in town. What has not been so great has been the excrutiatingly complicated process of buying my first home.
Long story short, it still has’t happened. One broker, two failed loan attempts, three delayed closing dates and several bitter and faulty pre-night celebrations later; I am now hoping to close on my new loft this week. Here’s a recap of the last couple of weeks.
I was supposed to close on my place a couple of weeks ago. The night before while celebrating my upcoming move, I get a phone call from Brianna, my sweet and hard working mortgage broker. In tears she explains to me that my loan had fallen through at the last minute as her brokerage firm apparently wasn’t allowed to do business with the chosen lender. You’d think someone would have thought of this sometime in the three weeks of working and approving my loan. While this meant that my parents weren’t going to be welcomed in my new place; this was hardly a big deal in my eyes.
Four days later with a new lender and loan; we took another shot at closing. On the morning of closing, Brianna calls to inform me that it’s a “no go” again. This time my new lender decided at the very last minute that they couldn’t sign a loan on a building under litigation. Now it was a big deal, as another delay in closing was going against my existing apartment, which had to be evacuated in two days.
One percentage point, a new broker, a local lender and a very understanding landlord later; I am now taking a third shot at closing on my loft. Third time’s a charme…right? Well, I certainly hope so.
This whole process has been driving me absolutely nuts. Things are too much out of my control and too many people are involved in this process (agent, broker, lender, underwriter, processors)whose lack of communication has resulted into this mess.
With that being said, if things work out they work out. Otherwise, there are much worse things that could happen. I’m healthy, my family is well and so are my friends. That’s what really matters.