Short Sale = Long Wait  

Friday, May 16, 2008

Yesterday was the day that we were originally supposed to be out of our house and we are not. We sent the landlord a letter that said we wouldn't be out by the 15th, and life has been fairly miserable since. The landlords are husband and wife, and one or the other or both have been calling or showing up at our house, harassing us about getting out of the house. They are telling us that if we aren't out by May 27th, their sale is going to go through. Now we are really thinking, "so what do we care?" and we could push it and stay here, but we aren't sure if it is worth them making our life miserable. It has been very stressful, especially for Michelle, since she is disabled and home during the day when they are calling and/or coming over.

So, we are going to rent a POD, and are moving for what will hopefully be only a couple of weeks into my sister-in-law's house. She owns a three family, and the third floor is currently unoccupied. Roland's mother lives on the second floor, and Paige has a room that she uses when she sleeps over, so the plan is that she will sleep there, and Roland, Michelle, and I will be camping out upstairs.

The problem with the place that we put our bid in on is that it is a short sale. This has been one of my new vocabulary terms since all this began. For an online definition of a short sale click here.

Basically, it means that the property was about to go into foreclosure, but the bank could accept our bid on it instead of going through the foreclosure process. However, it makes the whole process longer, because we need to wait for third party approval by the bank. The bank has had our bid for over three weeks and had not assigned anyone to look at our proposal yet. We were told at one point it could be at least 30 days before anyone even looked at our bid. So we are closing in on the 30 day mark, and hopefully once they look at it they'll accept it and the ball will be rolling again, but it doesn't seem that it could all possibly work in time for us to be out of where we are now in time. So, we will hopefully only be displaced for a short period of time.

This whole process has been very stressful, and although I hate the idea that we are being bullied out of where we are, it isn't worth the stress to stay. A month's worth of rent at my sister-in-law's and the price of the POD for a month roughly equal what we pay in rent to stay here and be harassed for another month. So, it seemed to make sense to throw in the towel and get out.

So now I get to spend the next week and a half or so packing and trying to get all of my stuff into the POD, and trying to figure out what I'll need to camp out for an unknown length of time in a tiny third floor apartment. Maybe we can make s'mores up there or something while we are camping out.

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7 comments: to “ Short Sale = Long Wait

  • Hello, I'm Sally.
    May 16, 2008 at 11:26 PM  

    I totally sympathize with you. We had a similar experience trying to by our first house and it was miserable. I hope it all comes through soon!

    On another note, I'd like to email you about making the bean bags. My email is on my user profile page, shoot me an email so I can get in touch with you.

  • kat
    May 17, 2008 at 11:05 AM  

    you're in my thoughts. i hope things will work out even better than you anticipate. and there's never a bad time for s'mores. >^..^<

  • Crazy Daisy
    May 17, 2008 at 11:41 AM  

    Wishing you all the best! I'll send positive vibes your way! I can't imagine being in that kind of situation!

  • Shan
    May 18, 2008 at 4:05 PM  

    I hope the house sale goes through soon. Buying a house and moving is always so stressful. I think the s'mores would certainly help.

  • Chrissy
    May 19, 2008 at 11:26 PM  

    I wish your landpeople would be more understanding with you. They seem completely self-absorbed with this whole situation and I can't believe they would put a whole family through such a stressful ordeal. I'm glad you found an alternative living situation that will hold you over until your bank stuff comes through. Hope everything gets better soon.

  • Sandra
    May 20, 2008 at 11:13 AM  

    I'm so sorry your landlord isn't being more flexible. I hope the house sale goes through soon.

  • beth
    May 20, 2008 at 2:25 PM  

    Thank goodness for family. Hoping things get settled soon for you.

 

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