Well, it comes down to the fact that our contractors were not fast enough in getting stuff done. We are between a rock and a hard place. Our only option is probably to rent a different apartment for a month and then go from there.
Here’s the deal: Since our credit ‘pull’ was only good for 90 days and runs out March 18th, and since we can’t possibly get everything done before then, and risk a credit pull, and if they pull our credit and find out we borrowed money to finish the upstairs, then basically we won’t get our loan. As of now it seems we will have to wait until it is ‘too late’ to get our house done by the 18th, then have them pull our credit, get it delivered and worked on, and then get our mortgage approved.
Had they gone ahead and done the foundation and everything in November, we would have been ready to set the house immediately upon finishing, it would be in and we wouldn’t have to deal with this. Since this didn’t happen, AND our landlady wants to move in here as of March 1st, we are stuck moving to another place for a month, and slowly getting things done.
Why are we in such a pickle? Silly us, WE ASSUMED that we’d be able to finish the upstairs at our leisure after we were settled. We didn’t find out until after the order was placed that this was not the case, and that the whole place has to be finished in order to be appraised and settled.
Why can’t we pay with savings? Why, the FIRST appraiser, who helped push our loan back 4 months by not doing her job in the first place, why she compared our 8.5 acres 4 BR house to a 3BR house on less than an acre in town. It appraised too low, and we had to empty our savings to pay the difference, and secure the construction loan. We didn’t find out about her comparison until about a month ago. Way too late. We’ve saved some more money, but that has to go to gravel. We thought we’d have some time to save some more, but to get the foundation in, NOW they tell us they have to have gravel down. After they’d told us for months it just had to be frozen and they could do it. Too bad they didn’t tell us that in November, and none of this would be happening.
So now we’re up $h*t creek without a paddle. We can’t finish our house in time to move out of here March 1st pretty much no matter what, but we can’t get our house finished by March 18th totally, either. Hopefully that makes sense. Either way, we are going to have to call about apartments today.