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