[Homestead] It is happening

Don Bowen don.bowen at earthlink.net
Mon Feb 7 23:12:51 EST 2005


Well, it is finally here.  The loan documents were signed Friday and 
recorded today.  Money should be dispersed tomorrow and hopefully my wife 
can close and move into her house Wednesday.

This was a rocky road marred by all sorts of incompetences.  The selling 
agent said they were pre qualified but they weren't.  The next screwup 
appears when the buyers did not have a valid social security card.  The 
lender did not tell anyone that there was a problem until a couple of days 
before the scheduled closing.  There was to be a 5 day slide in the 
schedule but the escrow office told everyone it was only a day.  That loan 
fell through so they had to go to another.  That one required that the 
buyers prove where they got the money.  There was also a second loan in the 
works and the first one to arrive would get the business but both 
declined.  Again, no one was telling anyone anything.  Finally the listing 
office got in the game and helped secure a loan which the buyer signed 
Friday.  What are the payments on a sub prime loan for $500,000?

I am still a skeptic so I am not turning over the house keys until I see 
the money show up in the account.

Don Bowen                          Awl Knotted Up Woodworking
http://www.braingarage.com
http://www.mapquest.com/maps/map.adp?latlongtype=decimal&latitude=33.26598&longitude=-116.98509
http://www.braingarage.com/Dons/Travels/journal/Journal.html






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