I was supposed to settle on Tuesday. It looks like that won't happen.
The short of it is that the seller didn't actually purchase the property; he purchased a contract for deed (which just isn't done anymore). A contract for deed is, well confusing. Basically, whoever he purchased that from still holds the title to the property until the installments are paid (unlike a traditional mortgage where I would get the title but my mortgage company will hold a lien, if that makes any sense). FHA needs him to prove that he has equity in the property and the right to sell it, if he doesn't have the title, he may not have the right. They need two attorneys to weigh in on this. One opinion is in ("it's all good") and we're hoping the second opinion gets to FHA today. The problem is compounded because it's a holiday weekend. Lawyer #2 may not get to it today and, if he does, FHA may not review it today. Meaning we won't get the go ahead in time for Tuesday.
It's completely out of my hands. There is nothing that I did and nothing I can do. I'll have no choice but to live with my parents until this is worked out.
The vast majority of my stuff is already at the house. We've filed a contract addendum to push back settlement until Thursday (because, if we don't and Tuesday gets here and we don't settle, the contract is void and I'm back to square one with no tax credit). I have to find something to do with my second car, because I don't want to have to shuttle it all the way to MD. I've got the additional day off of work that I needed. I need to cancel set up with Comcast on Wednesday, and I have no idea when I'll be able to get them back out to set me up.
Frustrated is not an adequate word for what I'm feeling.
I've moved locations!
1 week ago