Most of you know about our last 4 months of bad luck. I'm really hoping it has come to an end. We set a closing date of July 29th for our loan through Rural Development direct. 
The sellers have contractors out doing the required repairs, the apprasial came through ok and the title work should be done on Monday. Our funding came in last Monday, so our RD lady said the only thing we are waiting for are the repairs to be finished so we can close. I was really surprised at the inspection. There were some things I figured RD would red flag, but they didn't. There were a couple of major problems I figured would be a deal breaker b/c they were pretty expensive, but the sellers didn't blink an eye about fixing them. (As the deal sets now, their asking price was $65k, we are paying $58k and they pay all closing costs, they put in new carpet & over $3k in repairs.)
I have tried so hard to not get excited yet since everything so far has fallen apart at some point. Once all this is said and done, I'll let everyone know how doing a Rural Development direct loan worked out for us.
Please pray all goes well these next couple of weeks and we can finally have a house!
The sellers have contractors out doing the required repairs, the apprasial came through ok and the title work should be done on Monday. Our funding came in last Monday, so our RD lady said the only thing we are waiting for are the repairs to be finished so we can close. I was really surprised at the inspection. There were some things I figured RD would red flag, but they didn't. There were a couple of major problems I figured would be a deal breaker b/c they were pretty expensive, but the sellers didn't blink an eye about fixing them. (As the deal sets now, their asking price was $65k, we are paying $58k and they pay all closing costs, they put in new carpet & over $3k in repairs.)
I have tried so hard to not get excited yet since everything so far has fallen apart at some point. Once all this is said and done, I'll let everyone know how doing a Rural Development direct loan worked out for us.
Please pray all goes well these next couple of weeks and we can finally have a house!
Discharged Ch 7 9/10/08
We included our house IIB and are letting it foreclose. We were hoping to buy again next year which will be 2 yrs post BK discharge.
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