I am just beyond exhausted and just about in tears. Another week wasted with still no financing resolved!Now I'm being told that we don't qualify for the end loan (the regular conventional loan that the construction loan gets converted to) because since we had to include out home in our bankruptcy filing we have to be 7 years past, not 4 years. But my original lender is telling me it's 4 years per the "rules". The 7 years is only if we had been foreclosed on with our bankruptcy. We were not. We have never been late or behind on payments. We kept our house and we've continued to make timely payment the past 6 years post bankruptcy. Another lender said she thought it was 4 years too, but now she is double checking, but still couldn't get back to me on it today. We had to include our mortgage in our bankruptcy, even though we were keeping the house, we didn't have a choice.
I am honestly just pissed off and furious at my original lender. There was a reason I spent the time to get pre-approved months ago. If I had any inkling it wasn't going to go through, I wouldn't have even listed my house yet, LET ALONE accepted on offer on it! Now I'm supposed to be out in 40-some days and have no financing and no where to move to. She tells me it's because that she found out our lot is 80 miles outside their construction zone. Well, if that is the case then they don't even DO construction loans in that state, period. Our property is 58 miles from the state border. Plus the whole time I had told her the "area" we were looking, which was really about 100 miles from the state border. She should have known they didn't do construction loans in the state or at least checked on it from the very beginning.
and her "I have good news and bad news" a week ago....well I asked why being approved by her bank was good news when they wouldn't do our construction loan now and her reply was "well, you were approved for the extra amount, so that means you'll get approved by another bank". Really? cuz it sure ain't happening yet! DH is beyond stressed and you all know he can't handle stress at all. He's ready to just back out of everything at this point and just stay here. But, of course now that we've accepted an offer to sell, that would just create a whole new set of problems for us.