"MUTUAL AGREEMENT"

Wow!  We got an answer and we have mutual agreement!  We have 5 days to have the inspection and then we'll know for sure if we have the house.  EEK!  YEAH!  I'm so excited and it's for UNDER our budget!  YEAH!  This is a miracle and prayers have been answered (said with reservations until the house is for sure ours....).

Option 2 for financing - down the hole...

Well, we pursued another option for financing and it has turned out, 3 days later, that option has fallen through. Due to some short-sales and pre-foreclosures in our past, we're having to involve other people in our financing option.  It's a huge ask!  I'm not offended that this last option fell through.  The family member called me last night and said that they did a risk analysis - if something catastrophic happened to Mike or I, then they would become liable.  It is a huge ask when they have a family and are responsible for their own housing expenses and everything.  Now, Mike and I don't ever plan on this falling back on the responsibility of the family member but the reality is, we don't know the future.  Something catastrophic could happen.  So, we're on to our next option - a new family member. This will be our last ask. If it doesn't work out, then we will have to rent and pursue buying a house in a year or so.  We did learn that with several foreclosures put on hold last year, we will only see an increase this year.  If that is the case, our options of a great house can only increase as we wait for the right financing options (or the stars to align).

This is hard for us.  We started this marriage saying we wouldn't intertwine family and money.  And yet, we're breaking that rule.  

Creative Financing

We found out that our financing option is no longer an option.  So we are needing to get creative.  We are looking at other options for how we can buy the house that will work for us and start this adventure of UpCycling. I had emailed Sarah, our realtor to find out if we could walk through a house.  She called our Mortgage guy and then emailed me yesterday that it's best not to fall in love with a house until we have financing ready.  If we fall in love with a house and then can't pay for it, then we'll forever compare the "lost house" to the ones we're looking at when we do have financing.  I'll keep you posted on when we're back on track to buying a house.