We are currently in the process of buying a house, which I should just stop there, but I have to say that when people tell you that it is a buyers market, they are lying to you!!
J and I have been trying to buy a house since the end of March and have put thousands of offers on homes and have tried putting bids in but no luck so far. Our current rented town home lease is up at the end of July and just a week before our lease ended, we found out that one of our offers were accepted. YAY!!!!
So immediately after getting accepted, I went to Wells Fargo and filled out my application and showed them all the information needed for the full approval, since we were only pre-approved. It is now the middle of Sept and we are still waiting on the final approval from Wells Fargo. Now let me explain why they suck and why I should have been more prepared while in this process.
After I submitted my application, they advised me that it needed to go to an underwriter for review and that I would hear something back from them in just a few days. 2 weeks later, they told me that my credit score was not where they wanted it to be at and that I needed to bring it up and then to prove to them that J is responsible for one of the cars on in my name and that was easier said than done. First off, J and I bought a car together about a year after dating, but since he didnt have a checking account (long story), so he would sign over his checks to me and I would pay the auto loan through my account. Well according to Wells Fargo that was not ok, I had to have statements, copies of checks, and a writen document signed by J, saying that he signed his checks to me. After that was taken care of, I had a credit card on my credit that was paid off but didnt reflect that information. SO I had to fight and fight and fight with the credit card company to give me a new statement showing my account as a zero balance. From there we got my credit score retoggled and it went up but not enough.
From there, I have had to battle with another credit card company and have them print statement, send documented letters, and faxes to the lender stating I have a zero balance but the pain in the butt that they are, they wouldnt accept anything from the credit card company. ERRR! In the meantime, I have had to take a stupid first time homebuyers test, which took forever! I have had to sign and resign new contractors for our realtor becuase we have missed our close out date twice now.
As of right now, one we get the correct information from the credit card company, they will send my profile to get retoggled. If it goes up from there, then I have to finish the rest of the application and hopefull get approved. From there, we have to send our information to CHFA, for a down payment assistance program and wait a week for them to come back and approve it. So the earliest that we will hear anything back and be said and done with this crap, is probably the first or second of Oct, in which our close date is Oct.5.
I am so irritated with the situation for the simple fact that it has caused so much stress and frustration. Let alone that fact that we have to deal with this crap, since our lease was up and we didnt have any place to go, my father decided our the kindness of his heart to let us come stay with him and my brothers, until we close on the house.
It sounds great but living with 4 boys and having two dogs and then me in the house, can be kind of crazy sometimes. At first I hate it there, I never saw my dad and my brothers (15 &17) were running around like retards and having J, myself, and the dogs in a small room just became overwhelming. But overtime, I believe it is getting better and sometimes I think that I should just live with my dad forever. Kidding!! :)