House stuff.....

I want to say that I am currently in profuse dislike with Fannie Mae. We found the most amazing house a couple weeks ago - fell in LOVE with it, even with all the little quirks and the mold in the basement.... finally got our bid accepted and got set to plan for closing.... and then.... the rug was pulled out from under...... well, at least it feels like it.

The bank (Fannie Mae) has a special type of financing they use for their foreclosures - which on the website says it is comparable with typical mortgage rates. Turns out, the interest rate is a full 1 to 1.5% higher than traditional - not to mention the thousands of dollars that have to be paid up front. It feels, to me, that the loan is designed to help them to recoup their lost money - which is fab for them - but it feels like we're bending over and taking it on our end. Fortunately we have a wonderful realtor who is looking out for us. She's going to go to them and see if we can get the house with traditional financing, but it seems as though we may be saying adios to this house. It saddens me to no end - but I'm hoping that if this does not work out, that there is something more waiting for us on the other side of it.

So..... I have mixed feelings.... I love this house and can honestly see us in it - but if this is going to drive our mortgage out of our range, it's not worth it. We could actually build for cheaper than this would have us pay. So....we wait and we pray....and come up with contingency plans. Looking at apartments, continuing to look at listings online, etc. We shall see.....

Thanks for reading! =)