Friday, April 19, 2013

Sometimes good news give you diarrhea.

And that's just a fact. It's also a weird thing that I not only inherited from my mother but it's something Matt and I apparently have in common. Excitement, nervousness, and stress give us diarrhea.

I feel a little closer to you now that we've shared that.

But here's the deal. Today we had our appointment with the bank. It was supposed to be at 9 but because Mother Nature is illiterate and can't read "April" on the calendar, we got a ton of snow last night. Pretty much everything shut down this morning, and the bank had a message on their website saying they would open at 10, allowing roads to be cleared. So we were able to reschedule and get in at 11:30 which was the only other available appointment. I'm not going to lie, when we went? I was terrified. I didn't even eat breakfast because I couldn't guarantee it would stay down.

After a full hour of going over finances and our credit report and just everything that is involved with applying for a mortgage, and some not re-assuring facial expressions from the gal at the bank, she gave us the news.

Not only are we qualified for a mortgage (I squealed, Matt almost squealed but held himself together), but our debt to income ratio? 30%!! Now, most of you don't even know what that is or why it's important but let me tell you something: to be at 30% only four years after a bankruptcy? I almost started crying. This poor woman probably thought I have stopped taking my required medication. I was jumping in my seat, squealing, it's no wonder she ushered us out fast.


But now the real work starts. Our pre-qualification is good for 90 days. After 90 days they have to go through it all over again because that's what they do, and it's stressful. Because how many people do you know have sold and bought a house in 90 days?

Um, nobody. That's who.

So in order to get this shit done, we have a Realtor who was really aggressive with our friend's previous home and was really successful at getting them above what they needed. But in order for me to feel less terrified, Matt and I sat down and made a full list of what we financially can handle to finish on this house. The kitchen is out. There is no way we can do cupboards and honestly... no. It's just out. But here is what's in:

Front Porch: finish paneling, trim
Master Bedroom: finish trim
Living Room: paint cubby hole
Laundry Room: ceiling, paint, trim
Kitchen: Fix one section of flooring, trim
Back Porch: panel, paint. ??

The back porch is our wild card. Maybe it'll happen, maybe it won't. I think the little touches in the rest of the rooms are needed, but the back porch? Honestly, if they buyer had any sense, they would rip out the existing "closet" in there and make it a real mudroom. But we don't have time for that, so here we are.

Lambs- I'm scared. I am so over the moon excited but I am terrified at the same time. Literally terrified. I can't event think of the best case scenarios because all I think of are all of the things that could go bad. Primarily, this house not selling. My stomach is going to be totally rotted through by the end of this.

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middle child said...

I know when someone is buying a house, they have to have an inspector come out. Do you need to do that too so there aren't any "surprise expenditures" when trying to sell your house?

Ruth said...

I am 7 years out of bankruptcy and I don't think my debt-income ratio is that good.
Look on the bright side- stress might help you lose weight.

Steff said...

Congrats! I totally have stomach issues as well when I'm nervous/excited/scared, so I feel ya haha

My husband likes to constantly remind me that in the end, everything works out even if it's not as expected, so I'm passing along that advice! Try not to stress too much since you can't control a lot of the situation, but be confident that you can do the things you need to do! Good luck lady! =)

Shannon @ Bungalow960 said...

When I got approved for a debt consolidation loan I about shit my pants in excitement. Bowel movements and emotions go hand in hand I'm pretty sure.