Montana Jones

Montana n: A state of the northwest United States bordering on Canada. Admitted as the 41st state in 1889. The fourth largest state in the union, it includes vast prairies and numerous majestic mountain ranges.
Syn: Treasure State, Big Sky Country, Last Best Place.

Jones n: slang. An addiction or very deep craving.

Wednesday, March 14, 2007

Buying and selling

Me:
Well, the radon test results are now a moot point. My financing has been shot down.
Dad:
Uh-oh.
Me:
Yeah, I'm pretty bitter about that. I have some options, but I am angry right now so I'm not gonna make any decisions until I've cooled off.
Dad:
So what did R have to say about it?
Me:
Not much. She did give me the name for a different mortgage guy but she was thought the problems I have with the bank I will have everywhere.
Dad:
What about a down payment? You can probably change the numbers in your favor with a larger down payment.
Me:
The few thousand dollars I have to throw at it won't make enough of a difference. To get the bankers to pay attention I will need about 10 to 20 percent of the asking price.
Dad:
You should try to find out what the minimum down payment you need is. The bank of mom might be able to help.
Me:
Hmmm Okay, I will look into that.
Dad:
Does the bank have any other options?
Me:
Yeah, but not good ones. They have a higher interest rate that I can't afford. Funny how my income is too high for the affordable housing people, to low for the board of housing people, and the first thing the bank can suggest is a bigger cut for themselves and a higher payment I can't afford.
Dad:
Welcome to being in the middle.
Me:
I would never have gotten into this process if it wasn't for the bank giving me a good faith estimate that I could afford this thing. Two of them even. Now it feels like a bait and switch. The banks good faith estimates are loosing credibility with me. Did I mention I am pretty angry about this?

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Comments:
Yikes.

I have a feeling I may run into similar problems.
 
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