Thursday, May 20, 2010

Sorry, no house

Okay, so here is the latest.  I heard from our lender today and the Rural Development Fund has indeed run out of money.  This is not a good thing.  We are supposed to close on the house on May 28th.   The Senate is sitting on a bill that would put money back into that fund allowing hundreds of thousands of people to get their loans and therefore buy their houses.  The Senate can take as long as they would like to do this.  We are hoping that they will pass it before their recess in August, but there is no guarantee.  But, the fact that our closing date is May 28th means we do not have until August.  We have one week.  It does not look good, folks.  We will not be buying a house this summer.  We will miss out on that great tax break.  But, on the bright side, we will be able to continue to look for the perfect house.  We will have more time to put money aside for the house.  We will revisit the whole buying of a house business in the fall or winter after we have licked our wounds, and maybe we can take a small vacation this summer!  We will not be going to Disney World, or anything as exciting as I had outlined in a previous post, but that is cool.  I am totally good with it.  Things are good in my life.  I have a good family...  a good husband who takes care of me and loves me.  And hey, I might get a new job!

2 comments:

vicki said...

The fact that houses in your area qualify for an RD loan in the first place is a huge blessing because it means that when the RD loans do become available you can get qualified and get into a home with little out of pocket expense. We will be required to invest a down payment and that means saving LOTS of money not to mention closing costs because very few homes are RD (and you wouldn't want them anyway!). It will happen for you just keep in mind how easy it will be once all this RD stuff is cleared up and you find your perfect house!

ginny said...

I am so sorry. Maybe it happened because an even better house will come along meant just for you and your sweet family!