Thursday, August 21, 2008

News on the house...

I have to inform you that after many attempts with brokers and banks, we were unable to get financing on our house :-(. The reasons cited:

- need more cash reserves/savings, even though a lot of it was used toward design, fees, etc.
- too high of a budget (which can be reduced, but we still need point 1 above to work first)
- the economy, the state of the mortgage industry is making EVERYONE 10 times stricter than normal! Even people with $40,000 in the bank are not getting approved because of hella-strict guidelines (at least that's what my banker told me, or maybe she was trying to make me feel better???). Oh well.... :-I

Actually, I don't feel as bad as I thought because we think maybe the timing is just not right for us. I am dealing with health issues right now and so I need to heal. Maybe it's just not in the cards right now to start this stressful project and deal with huge house payments when the situation is not ideal.

BUT... I am optimistic that we WILL start this house, but it's going to be later rather than sooner, I promise! For the next 6 months we're going to be frugal and cheap - no more eating out excessively or we'll have to find a way to hit a jackpot! We're going to SAVE SAVE SAVE. I will let you know when that time comes.

Please feel free to come back to our blog and check it out! Thanks guys for all your support, but it's not over yet!!!