The Crone's Journal
Wherein She Occasionally Dedicates Profound Attention to Minutiae
New House 
2nd-Jul-2009 08:52 am
wtf?
We were supposed to acquire it today. Had an appointment for 2:30 this pm to complete the paperwork and receive the keys. However, late yesterday the mortgage company suddenly announced that we could not use our money from the school for the down payment and closing costs. The quit-claim deed for the school doesn't say what amount we were paid. (It didn't say how much we paid when we bought it, either; in both cases probably because the other party wanted to cheat on his taxes. Most people seem to think that acceptable behavior.) Consequently, the mortgage company has only our word for where we got the money. Ergo, it must be drug money.

[sigh] My honey has gone to our bank to see whether he can get a loan against the money in our account, since that would launder our money by providing a paper trail the mortgage company could accept. He also contacted our Hawaii bank to see whether he could get a loan against his IRA. They said yes, but it might not be processed in time, which is why he's now trying the local bank as well. My guess is, neither one can be processed in time for today's meeting, so we're not moving this weekend after all.

And consequently, probably not anytime soon, even assuming we are indeed able to buy the house next week (or ever). My honey's work is very, very busy this month as the product "goes live." He expects to work early and late every day and possibly weekends. In fact we were surprised he could get this weekend off, and were gladly planning to rush the move to take advantage of that.

I feel a tad fretful about "my" garden at the Folly, as the owner has now moved and I can't be there to take over its tending; but what the heck, it'll survive or it won't, and there's nothing I can do about it now. Not much we can do about any of this but wait and see. Life's like that, sometimes.

I don't see why those pesky drug dealers had to go trying to buy houses and whatnot with their unlaundered drug money, thus spoiling things for the rest of us!
Comments 
2nd-Jul-2009 02:41 pm (UTC)
The loan possibilities didn't work. Couldn't happen in time and/or would make us appear to be laundering our money and/or too much in debt. My honey is pursuing other possibilities, but I am not optimistic.

Perhaps if all else fails the seller might rent it to us for 6 months or a year, after which time the school money would have got "clean" from sitting in the bank and we could reapply, hoping that having been turned down for this loan didn't ruin our credit rating so much that even after the money miraculously got clean, we couldn't qualify.

Shows how old I am: I always thought if you had US dollars they were good for buying things. These days, however, not so much. Pesky drug dealers. Or maybe hired assassins. I wonder if that might be what we are? (If so, I guess we work cheap.)
2nd-Jul-2009 05:13 pm (UTC)
I will come SIT WITH YOU for a while and make FACE WRINKLES and touch you with my WHISKERS.
2nd-Jul-2009 06:17 pm (UTC)
Thank you very much, [info]connerybeagle. You know just how to make a person feel better.
2nd-Jul-2009 09:03 pm (UTC)
Wow. That sucks. And is ridiculous.
3rd-Jul-2009 03:21 am (UTC)
Extremely ridiculous. And sucky. Now they've involved the seller in it, and are juggling numbers: if they raise the price this much, and she pays the closing costs, will she still get as much as she's supposed to? Apparently she's willing (and her money is considered clean), but the mortgage company is now having holiday weekend, so there's no chance of closing till Monday at the earliest...Which incidentally is the last day we have the interest rate locked in. Want to bet it'll drag on past then so they can charge us more? If it happens at all, of course.

Pfui.
3rd-Jul-2009 08:21 pm (UTC) - WHAT???
Anonymous
Are they following some law? You can't buy a house with money anymore? You have to have a loan? This sparks about a thousand questions, and makes me wonder if it's just some plan cooked up by the banks to make you have to have a loan so they can charge you interest on it.

I can remember a time when you could actually buy things with money.

Oh, I can't use open ID (LJ spits it out). I'm Jo at www.jam2day.blogger.com.
3rd-Jul-2009 08:27 pm (UTC) - Re: WHAT???
Apparently you can buy a house with money IF you can establish a paper trail to prove exactly where you got that money. Otherwise it is assumed to be "dirty" and all bets are off.

Incidentally is there a tyop in your url? It sounded familiar, so I pasted it in my browser, but it doesn't appear to go anywhere; I get verizon search engine results instead.
4th-Jul-2009 12:15 am (UTC)
Is about as silly as when we wanted to buy the van after the Explorer caught fire. The loan folks the dealership works with were "nervous" because we have essentially NO debt, other than the mortgage! Hubby has a good job, we don't owe money to a lot of creditors, and that makes them nervous???

It's just amazing that you can't actually buy anything of large value these days with plain old cash.
4th-Jul-2009 01:14 pm (UTC)
No debt? Isn't that unAmerican?

I wonder if that's why these people are making such a fuss. No debt is probably another sign of drug dealing. So that's two strikes against us.
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