Belt Auction

Home financing help needed?

It's been a miserable holiday so far, Friday we found out that the programs that I qualified for do not exist anymore for me. They have changed the qualifications, now I am short on funds for financing by $3,000.00, and there is no where to borrow it from. One of our Kitties passed away Sunday. My Mother is already stone drunk and I am suppose to go there for dinner. My boyfriend went to go see his family 20 miles away for dinner. We by-passed Christmas because of the "House" that was suppose to be a done deal...our Christmas to us...LOL Any ideas for new home financing? It needs to be closed per contract by 01/04/08 or it goes to auction...it is in the final end of forclosure. I will contact you tomorrow. Said it was an FHA? What do I know...absolutly nothing, that's what!!! That's why I am in this position right now.Thanks for the reply, Patti

Public Comments

1. Pretty difficult question to answer.. It sound like you might be on some sort of stated income or No Doc Loan if the qualifications changed. It would be very difficult to tak over the loan and have it close by 1/4/08 with all of the holidays and such. If you'd like you can give me a call tomorrow and I'd me happy to lok at the situation to see what you qualify for. Paul Compton 404 424 0731
2. What you need to do is relax. Know that the seller is still interested in working with you and know that a real estate agreement is nothing more than what buyer and seller agree to in writing. Your closing date can be modified if you agree. If the seller has a cash buyer waiting, you might not get the house, but I doubt they're there. If it were me, I'd ask the seller to contribute the $3,000.00 you need, if not ask the seller's lender. Ask yourself if the seller's lender would pay your 3K to save this deal or foreclose? I don't think they will if they know that's all you need. If you're still willing to hang in, I'm thinking all others involved would be foolish not to. There should never be a reason to lose a house deal for 3K in this market, my opinion.