Tuesday, June 23, 2009

Update on Move

We are still at a stand still with the appraisal on our new house.  Yesterday was a horrible day because not only was it the day we were supposed to be closing, but we were getting the run around from everyone.

Apparently, with the new appraisal laws that were instated May 1, mortgage brokers can no longer deal directly with the appraiser or bank and the bank and appraiser cannot communicate either.  Enter the management company.  

So all day the appraiser was saying that he sent the new comps to the management company (who has to look over them before sending them on to the bank for approval), but the management company was adamant they never received the information.  

After two wasted days of no one taking responsibility we finally found out this morning that the management company does have it after all.  They will take the next few hours to look over it before sending it on to the bank.  Once the bank receives it, it will take a minimum of 48 hours for them to get to it, and then they will decide if they happy with the new comps.  I don't even want to think of it, but there is still a chance the bank can turn the new comps down.  If that happens we are back to square one and might have to start this whole process over again with a new bank, which takes weeks.  

So, we will most likely be moving twice.  I am reserving storage today and we will start that fun process tonight.  Please say some prayers for us.  Obviously, a move is always stressful, but this is really taking a toll on all of us.  

On a brighter note, we will most likely find out tomorrow morning if Addison is going to have a little brother or sister.  Tune in tomorrow for the blue/pink reveal....and most likely, more moving drams.


Becky Todd said...

I don't know what to say...that sounds horrible! I have been thinking about you all day yesterday and today and hope everything works out. Can't wait to hear what you are having! :)

Mary said...

what did they say?! (about the baby)