Fits and Starts

I'm really early in this process. Almost so early, that I debated starting to blog. But good or bad, whatever the final outcome is, I wanted to have it documented. I'm sure I'll have good days and bad ones. And my, oh my, how I have LOVED all the Ryan Home building blogs. You folks are a God send. Really. I've learned soooo much and I know it will be useful to me as I take this journey. I only hope I can be helpful along the way.

My SR (I learned that from the blogging peeps - that's Sales Representative), is wonderful. I've had little interaction with her up until now, because I'm still so new, but I like her. She's already worked above and beyond. Let me tell you how....

Like most folks, I have issues. The thing plaguing me most was the fact that that big ole house that I had when married was disposed of via short sale. And we weren't current in payments when the sale occurred. More like,  deed in lieu of foreclosure. I know. It's horrible. But it couldn't be avoided - at least I didn't know how to avoid it. At any rate, I'd learned via my own research that I wouldn't be eligible for a loan for at least 3 years. The house was sold in May 2010. So all this time, I've just been waiting (impatiently) for May 2013, so I could jump back into the market. The community where I'm looking has about 10 to 12 lots left - 87 homes in total - so they are winding down. I explained all this to my SR, asked her if I could write a contract, have it held up until May. She called the loan folks right then to ask about the short sale situation. The LO (loan officer) informed her that she wouldn't be able to even submit me for a loan until 30 days AFTER the sale of the house, and I'd have to provide the HUD1 from the home sale. So now we're talking June. (I'm looking at FHA financing, btw) And my SR started talking to me about being 'contingent'. Sigh. At this point, I was feeling a bit discouraged. I was still feeling hopeful about my good credit! I have really good credit, even post short sale. Then, my SR explained to me that the FICO numbers we pay to see aren't necessarily the same as the ones they will see. SAY WHAT??? I didn't know this. Then why am I pulling FICO numbers? Double sigh. Nonetheless, I pressed on to find the HUD1 indicating the details of the short sale. My SR told me she was going on vacation, but before she left, we did do a lot hold. I didn't get too attached to the lot, since I'm 'contingent'. My SR told me that as soon as I got the documentation, email it to her, even though she was going to be on vacation. I told her I would...and I did. She immediately got all the documents over to the LO, and two days later, all while my SR was still on vacation, I got an email from her...she says her LO says we're good to go. We don't have to wait. We can proceed full steam ahead right NOW! I'm like...floored with excitement. I don't know why....I don't know what happened to the 3 year thingie - I just know I'm counting this blessing as mine.

Onward we go. Next step - I have a meeting scheduled with my SR on the 18th. She told me at that time we'd build the house out on paper, monkey with the numbers and all that good stuff. Soon after that, I guess I write the purchase agreement. I'm happy, nervous, excited...fill in the blank...all at the same time. And it's great to share with folks who know the feeling. :-)