Thursday, June 28, 2012
We have been working with Angela, our awesome sales representative since last year! We went to the table in September to get pre-approval; but we were not ready! Angela, told us exactly what to do to get qualified. We are business owners of a construction company and were hit hard during the recession which meant Year 2010 was a bummer. However, Year 2011 was the bomb! We could not qualify in September because they had to use Year 2009 and 2010 tax returns which would not work. So she suggested we wait to purchase in February with 2011 tax returns which were in our favor. We were also shy a few points with our credit scores. We did everything to get prepared and a whole lot more. It took months for the score to move which was crazy. But it still did not put us where we needed to be. We could not beleive it and neither could they! So the underwriters suggested another option to increase the score and it DID! My husband called me to tell me they were denying the loan because our front and back ratios were still too high with the new score. WHAT?! I told my husband, we GET to negotiate! So we got back on the phone to negotiate a DEAL! They agreed to the DEAL; however, we had to show and prove documentation to support the DEAL to get us back into underwriting. We gathered the documentation, but they also wanted documentation from our accountant who just happens to be in Hawaii laying across the beach! So we wait!! And wait two weeks for him to return and were able to submit the last document. We heard back from the underwriter's immediately and they said........you guessed IT! They said, "everything is looking good, but please provide these additional documents." We felt some relief because we were back in the game. This was great news; however, RH gave the underwriter's until the end of this month to say yay or nay!! It's been entirely too long and they cannot hold the lot beyond this month. It's been a crazy ride! I am confident that we will get to build our dream home on Lot #28. As you can see, we are way to deep to pull out NOW! If we go to another lender at this stage of the game, the new lender has to pull our credit which would affect our scores, lose the incentives, the lot etc. etc. etc. We are actually grateful they are doing everything possible to get the loan approved instead of kicking us to the curve. Thank you for your prayers! Please keep them coming. We need and appreciate them.
Tuesday, June 26, 2012
*in my Brooklyn voice* Okay, Blog Land Family, I have been holding down the fort with patience, humility, faith, understanding, vulnerability, trust, courage amongst a few other attributes that I have not included on this list. With that being said, we are at a crossroads with RH! NVR must make a decision this week, and I mean this week on our loan approval or RH will not hold our contract much longer. There are only three more working days left in this month. They will not provide any more grace to the underwriters past this Friday, June 29, 2012. Continue to hold us in your prayers--it has been a long journey since last year when I started researching the builders around the neighborhood looking for a house to call home. We signed our purchase agreement on February 9, 2012 and sat with the loan officer on February 13, 2012, to sign our official contract. Quick sidebar.....AND, we celebrated Valentine's day on February 14, my birthday on February 22 and our 12th Anniversary February 28. As you can see, we tend to celebrate a lot in February. Anyway, we met with all the contractors (CTI, Guardian, M&R Floors for our selections/upgrades, submitted some customizations and we are ready to move forward! My husband and I do have confidence that the order in which this process has played out was significant to our growth as a married couple. We are also confident that we will build this home on Lot #28. Stay tuned........Will the ROME......DO or DIE!?
Sunday, June 24, 2012
During my daily drive by, I took a picture of the empty cul-da-sac a few months ago...check out the changes in the community below:
|That was..... February 2012|
|This is NOW... June 2012|
|Different view showing the Oberlin, not the best shot, but it works.|
|Milan, Almost Done|
|Milan, Not quite Done!|
|Me parked across from the Victoria Falls!|
|View of the main four lots in the cul-da-sac. We will be the only Rome in the cul-da-sac--YAY!!|
|Oberlin owner parked on curb of new home!|
|Evensong Trail next to Lot #27, Oberlin! First homeowners to move into the cul-da-sac!|
|Partial view of our empty Lot, :-( Coming SOON, fingers crossed!|
|The Chapel at Fairwood, South Side|
Thursday, June 21, 2012
Friday, June 15, 2012
|First Rome in the South Chapel area of Fairwood - Elevation A|
...I decided to share some progress of our new community! Let me tell you, this has been the most poignant time in my life where I am being tested on how patient I get to be. It has shifted me to places I never would have gone before; and yet I know the prize is just around the corner. I am filled with gratitude and appreciation for this RH journey. I complain NOT! Continue to keep us in your prayers! So in the meantime, here are some of the Rome's I watched being built since January as we wait on our loan approval. Check it out!
|Second Rome in the South Chapel area of Fairwood - Elevation B|
|Third Rome - Elevation B|
The empty space in the middle is our Lot #28 and to the left is a Victoria Falls on Lot #29 and to the right is the Oberlin on Lot #27. Today is their settlement/closing. We also have one Naples, and three Milan's being built along the length of this block and in the cul-de-sac next door to us. Everything is coming along nicely. I saw our PM, Greg, who told me, "he cannot wait to build our home" and neither can I. We are on the last leg of the underwriting process and praying for them to approve the loan this month so that we can be placed on the schedule for our pre construction meeting to break ground next month. Fingers crossed!!