Thursday, December 06, 2007

Still Nothing

Today's been another one of those roller coaster days. Last night we were pretty sure we weren't going to get the house and I was feeling pretty good about that. Then this morning I started feeling like I really wanted the house and was realizing that we'd never find a cheaper home in that neighborhood. We didn't really hear anything from them until 3:00 when we found out that some things had changed in the mortgage industry that directly affected our offer. We made the necessary chages, but didn't actually lower our price. It's continued to sound more hopeful that they'll accept our offer, but they're definitely trying to make us sweat. We'll see what tomorrow brings...

Also, for any of you that might be looking to buy/sell a home in the near future: they just came out today saying that they are no longer permitting "allowances" to be requested such as carpet, appliances, etc...when using a conventional loan. Our guy also says that as of March other rules are changing for conventional loans as well, like borrowers whose credit scores aren't above certain numbers and aren't putting at least 30% down will have to pay points or something like that. I don't understand all the lingo, so check with your people.

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