Trust I has given verbal approval, just waiting for written letter of approval. Negotiator is on vacation, so letter should arrive to selling agent next week.
Trust II has indicated it will be approved, waiting for approval letter as well.
Here is some encouragement from our agent. "What I like is that I am not hearing any major hedging or thoughts that we are still in a negotiating process - but rather an almost clerical process at this point. She (selling agent's office manager) also said that once we have final approval the closing period is anywhere from 2-4 weeks - which mainly depends on the buyers ability to get to the table and close the loan. SO I am hopeful that we can get approval next week (I will once again start pushing on Monday) and we can get you in the house before Christmas!"
Of course, cautiously optimistic, as verbal agreements haven't gone in our favor in the past.
And in Stephen's world, the vacationing negotiator for Wells Fargo is visiting Thailand, which will be hit by a tsunami, making Wells Fargo designate a new negotiator to our short sale process, making us start from scratch.
I seriously would not have gotten through this process without my husband's sense of humor.
Tuesday, November 24, 2009
Monday, November 23, 2009
3 counties in 3 months
We're on the move again! Surprised? No one should be at this point.
The kids and I are 'moving' to VA Beach after our trip to Philly for Thanksgiving.
There is so much that could go into this post, but won't. Just know it is a good move for us right now as we wait to hear about the short sale house.
Again, saying we are grateful for our family doesn't even come close to expressing our sentiments.
The kids and I are 'moving' to VA Beach after our trip to Philly for Thanksgiving.
There is so much that could go into this post, but won't. Just know it is a good move for us right now as we wait to hear about the short sale house.
Again, saying we are grateful for our family doesn't even come close to expressing our sentiments.
Wednesday, November 18, 2009
one day at a time
Took Charlie to get his haircut today. We walked over to a little shop in the parking lot adjacent to the hotel.
When I couldn't pay (I didn't have cash or a check), I told the barber I would run over to the grocery store to get cash. I told him it would be a few minutes, in that I was indeed 'running' not using a car. With three kids in tow.
So of course we got to talking about why I was walking, why we are staying in the hotel.
When these conversations start, I never know how much a stranger actually wants to hear, cares, or their knowledge of the current real estate market - the meaning of a short sale. So I usually just say we're waiting for a house.
The crazy thing is, most people want to hear the story. And usually it is because they know someone affected by the current real estate market and can commiserate.
This barber knew of the short sale process and wanted to talk because he is on the flip side, it is his current home being sold for $200,000 less than he paid for it 5 years ago.
He wasn't bitter, just sad. And he actually told me he was happy to meet a family waiting for a short sale, because he is seeing mostly investors for his property. Our conversation was cut short by another customer. I was glad to see he had business.
After I got the cash and walked back, he had two more customers waiting. I quickly paid so he could get back to work, but he took the time to say "just take it one day at a time." A man about to lose his home consoling me.
Everybody has a story to tell. It has been interesting to have a story of our own that actually invites others to share their experiences.
When I couldn't pay (I didn't have cash or a check), I told the barber I would run over to the grocery store to get cash. I told him it would be a few minutes, in that I was indeed 'running' not using a car. With three kids in tow.
So of course we got to talking about why I was walking, why we are staying in the hotel.
When these conversations start, I never know how much a stranger actually wants to hear, cares, or their knowledge of the current real estate market - the meaning of a short sale. So I usually just say we're waiting for a house.
The crazy thing is, most people want to hear the story. And usually it is because they know someone affected by the current real estate market and can commiserate.
This barber knew of the short sale process and wanted to talk because he is on the flip side, it is his current home being sold for $200,000 less than he paid for it 5 years ago.
He wasn't bitter, just sad. And he actually told me he was happy to meet a family waiting for a short sale, because he is seeing mostly investors for his property. Our conversation was cut short by another customer. I was glad to see he had business.
After I got the cash and walked back, he had two more customers waiting. I quickly paid so he could get back to work, but he took the time to say "just take it one day at a time." A man about to lose his home consoling me.
Everybody has a story to tell. It has been interesting to have a story of our own that actually invites others to share their experiences.
Thursday, November 12, 2009
a house update
The second trust (second loan) has accepted our offer and the amount they will receive.
So here we sit, still waiting for Wells Fargo (the first trust) to accept our offer and give us the green light to start the process to close.
Here is a letter I sent to Wells Fargo, the Obama administration and Glenn Beck. I assume it will go nowhere with these venues, but it felt good to get it off my chest and 'out there'.
November 6, 2009
Dear Wells Fargo:
This letter is on behalf of me and my family, husband of ten years, as well as our children, daughter 5, son 3 and a fifteen month old baby boy.
We are homeless. Not homeless in the sense that we live on the streets begging for food, shelter and money. We are homeless in that we have no place to call home.
We currently live in a hotel in northern Virginia.
The beginning of our homelessness is no fault of ours or yours, but a wretched landlord in Baltimore who refused to fix a mold problem that reached toxic levels.
In hopes to get our family well, especially the baby, we quickly moved out. Fortunately we have family who were willing to take us in for some time.
Just 3 weeks later (August 6, 2009) we put an offer on a home.
Yet 90 days later, here we sit, waiting to hear if our offer has been accepted by your bank.
My husband and I have worked very hard and in our ten years of marriage have previously bought and sold two homes. We have excellent credit, we don't live above our means, and we have cash to put down and/or put into the property we are trying to purchase.
We have been told the 'short' sale process can be long. We have waited patiently. We have rushed around to get signatures and paperwork to you in a timely manner. We have even brought our offer up to your asking price. Yet here we sit, still wondering if the home is ours, still homeless.
We understand your bank is facing a great financial loss with this home. But by sitting on a decision with this home, your bank is losing money daily. During a time when Americans and especially banks and big corporations are trying to be more fiscally responsible, this doesn’t bode well.
It is no business of ours as to why the current owners claimed distress on their mortgage.
All we ask is that you take this issue of what is owed your bank to the President, to the current administration. Not use it against us to stop us from buying a property that we can see calling home for many years to come.
Tired, homeless and very frustrated,
Susan Keller
So here we sit, still waiting for Wells Fargo (the first trust) to accept our offer and give us the green light to start the process to close.
Here is a letter I sent to Wells Fargo, the Obama administration and Glenn Beck. I assume it will go nowhere with these venues, but it felt good to get it off my chest and 'out there'.
November 6, 2009
Dear Wells Fargo:
This letter is on behalf of me and my family, husband of ten years, as well as our children, daughter 5, son 3 and a fifteen month old baby boy.
We are homeless. Not homeless in the sense that we live on the streets begging for food, shelter and money. We are homeless in that we have no place to call home.
We currently live in a hotel in northern Virginia.
The beginning of our homelessness is no fault of ours or yours, but a wretched landlord in Baltimore who refused to fix a mold problem that reached toxic levels.
In hopes to get our family well, especially the baby, we quickly moved out. Fortunately we have family who were willing to take us in for some time.
Just 3 weeks later (August 6, 2009) we put an offer on a home.
Yet 90 days later, here we sit, waiting to hear if our offer has been accepted by your bank.
My husband and I have worked very hard and in our ten years of marriage have previously bought and sold two homes. We have excellent credit, we don't live above our means, and we have cash to put down and/or put into the property we are trying to purchase.
We have been told the 'short' sale process can be long. We have waited patiently. We have rushed around to get signatures and paperwork to you in a timely manner. We have even brought our offer up to your asking price. Yet here we sit, still wondering if the home is ours, still homeless.
We understand your bank is facing a great financial loss with this home. But by sitting on a decision with this home, your bank is losing money daily. During a time when Americans and especially banks and big corporations are trying to be more fiscally responsible, this doesn’t bode well.
It is no business of ours as to why the current owners claimed distress on their mortgage.
All we ask is that you take this issue of what is owed your bank to the President, to the current administration. Not use it against us to stop us from buying a property that we can see calling home for many years to come.
Tired, homeless and very frustrated,
Susan Keller
two news
Stephen thought it would be fun for the kids to have a fish here at the hotel. So, here is Curly the crowtail betta.
Jackson's first pair of shoes, some old school Nikes. We were putting off buying new shoes for him until he was fully walking (almost there!) and since I have Charlie's first pair packed away and he only wore them 3-4 times before it got too hot to wear Stride Rite's. But since the temperature has dipped, since Jackson won't keep socks on his feet and since I have heard several people say, "Wow, his feet must be so cold!" we went ahead and bought his first pair.
Jackson's first pair of shoes, some old school Nikes. We were putting off buying new shoes for him until he was fully walking (almost there!) and since I have Charlie's first pair packed away and he only wore them 3-4 times before it got too hot to wear Stride Rite's. But since the temperature has dipped, since Jackson won't keep socks on his feet and since I have heard several people say, "Wow, his feet must be so cold!" we went ahead and bought his first pair.
Monday, November 9, 2009
fresh air
We are having some gorgeous weather! While Stephen was here this weekend, we visited a local discovery museum, walked around historic Winchester and found a great park for the kids.
Today I took the kids back to the park. Charlie met a friend who he played with for 2 hours. Charlie kept asking the child his name, but couldn't understand him. So Charlie just called him 'friend.'
"C'mon friend, let's go down this slide." It was so cute.
While the kids ran around chasing ducks, the most well-fed ducks I have ever seen, I talked with a couple visiting from Delaware. They had their granddaughter with them to to give their daughter and their son-in-law some time to pack.
The son-in-law works in the building industry and has recently lost his job. They also lost their house. The couple went on to tell me all three of their children are struggling.
They were visibly upset with the circumstances and told me they promised all of their children a place to stay with them in Delaware if needed. It was heartbreaking to hear the story, but inspiring to see this family pull together.
As much as I don't like the economy being bad, the unemployment rate increasing, I think these times have brought us to points of realization. What is most important to us? Who is most important to us? If we lost everything, what would that look like to us?
No one wants to see loved ones struggle, but gaining some perspective in troubling times can be a great life lesson.
Our lives, the homeless Kellers, has become simple. Our situation may be complicated, but our day to day living has become simplistic. It has been an adjustment, but a good one. I hope once our housing situation is straightened out, we will continue this simple life, for it is quite fulfilling.
Today I took the kids back to the park. Charlie met a friend who he played with for 2 hours. Charlie kept asking the child his name, but couldn't understand him. So Charlie just called him 'friend.'
"C'mon friend, let's go down this slide." It was so cute.
While the kids ran around chasing ducks, the most well-fed ducks I have ever seen, I talked with a couple visiting from Delaware. They had their granddaughter with them to to give their daughter and their son-in-law some time to pack.
The son-in-law works in the building industry and has recently lost his job. They also lost their house. The couple went on to tell me all three of their children are struggling.
They were visibly upset with the circumstances and told me they promised all of their children a place to stay with them in Delaware if needed. It was heartbreaking to hear the story, but inspiring to see this family pull together.
As much as I don't like the economy being bad, the unemployment rate increasing, I think these times have brought us to points of realization. What is most important to us? Who is most important to us? If we lost everything, what would that look like to us?
No one wants to see loved ones struggle, but gaining some perspective in troubling times can be a great life lesson.
Our lives, the homeless Kellers, has become simple. Our situation may be complicated, but our day to day living has become simplistic. It has been an adjustment, but a good one. I hope once our housing situation is straightened out, we will continue this simple life, for it is quite fulfilling.
Thursday, November 5, 2009
90 days
and we still don't know if we own the home or not.
So here are some thoughts that have transpired over the last 3 months.
1) When dealing with the bank, throw logic out the window. The word is not in their vocabulary.
2) The bank does not care about the buyer. All they care about is the mighty dollar.
3) When a bank says they'll get back to you in a couple of days, they actually mean weeks.
4) When the bank says we want X amount of dollars for this house, and you offer them said amount, it doesn't make the process any quicker (refer back to #1).
5) A man's perspective of who is pushing paper at the bank is a woman. A woman's perspective is that the paper pusher is man. Always blame the opposite sex.
5) Every moment is exhausting. When the phone rings, it could be the realtor. When it is the realtor, it isn't the news that was expected.
6) When there is news about the process, it is not detailed and very cryptic. Today's news "after speaking with the bank, we (selling agent) have been told we will receive a call back from the negotiator."
7) The buyer is always rushing to get the bank whatever it needs at any given moment, for fear of losing the sale. The bank has no timeline.
8) Buying a short sale is the truest test in patience and complete surrender. The buyer has no control in the process.
With a lot of faith, and tremendous help from our family and friends, we're still hanging in there and hanging on to the hope this house will be ours someday soon. We have been told if we can wait out the short sale process, the house (and the price) will have been worth it. Still not sold on that thought, but we'll see.
So here are some thoughts that have transpired over the last 3 months.
1) When dealing with the bank, throw logic out the window. The word is not in their vocabulary.
2) The bank does not care about the buyer. All they care about is the mighty dollar.
3) When a bank says they'll get back to you in a couple of days, they actually mean weeks.
4) When the bank says we want X amount of dollars for this house, and you offer them said amount, it doesn't make the process any quicker (refer back to #1).
5) A man's perspective of who is pushing paper at the bank is a woman. A woman's perspective is that the paper pusher is man. Always blame the opposite sex.
5) Every moment is exhausting. When the phone rings, it could be the realtor. When it is the realtor, it isn't the news that was expected.
6) When there is news about the process, it is not detailed and very cryptic. Today's news "after speaking with the bank, we (selling agent) have been told we will receive a call back from the negotiator."
7) The buyer is always rushing to get the bank whatever it needs at any given moment, for fear of losing the sale. The bank has no timeline.
8) Buying a short sale is the truest test in patience and complete surrender. The buyer has no control in the process.
With a lot of faith, and tremendous help from our family and friends, we're still hanging in there and hanging on to the hope this house will be ours someday soon. We have been told if we can wait out the short sale process, the house (and the price) will have been worth it. Still not sold on that thought, but we'll see.
Tuesday, November 3, 2009
Halloween
We had a great weekend in Baltimore with Thomas, Jenny and James. Here are some highlights of our Halloween.
Stephen's carvings - the top pumpkin is Ray Lewis of the Ravens.
Charlie as a Raven's football player.
Avery as Word Girl
Jackson and Stephen enjoying the trick or treating.
Stephen's carvings - the top pumpkin is Ray Lewis of the Ravens.
Charlie as a Raven's football player.
Avery as Word Girl
Jackson and Stephen enjoying the trick or treating.
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