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  • From: Don Bowen <don.bowen AT earthlink.net>
  • To: homestead AT lists.ibiblio.org
  • Subject: [Homestead] It is happening
  • Date: Mon, 07 Feb 2005 20:12:51 -0800

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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