There's an elephant on my chest

ARGH! I think I am losing my mind. So now we are dealing with a pain in the ass loan and pain in the ass sellers. So if it wasn't bad enough that our loan has like 80,000 hoops to jump through - I cannot tell you how many letters I have signed saying I am working from home and I am not using my money for work supplies and I am using less than 15% of the house for the job and every other request under the sun -- NOW, the sellers don't want to sell, they'd rather go into foreclosure.

Ok, so today we found out that a) there's an assessment on the house for 2009 for the road - that's fine we knew that was coming and b) the sellers who are in deep doo doo when it comes to money were told by the bank that the bank wants ALL of its money back not just the money we are giving them and the seller's don't have it and now want to go into foreclosure.

So here's the story: The idiot couple took out money against their home to do some repairs. They took the money and instead of doing repairs they spent it other ways. (Kevin said this is very common right now - people taking out money against their homes for updates and then using it to buy a car, rv, etc.) So they took the money out and then realized they were running late on their mortgage. So they were like crap we cannot pay our mortgage we better use this $20,000 to pay off our mortgage. Well, the $20,000 ran out, they didn't make any repairs, and they still owed money. So a great idea dawned on them - let's get a credit card and use it to pay for our payments. Well, $9,000 later they are $29,000 in debt and still have no end in sight.

So that's when the bank stepped in and they decided to sell the house. This way the sellers don't go into foreclosure and the bank gets rid of the loan. It's called a short sale. Well, apparently they owe more than just the $29,000 because once they get the $228,000 from us they STILL owe the bank money -- This is where it gets interesting -- the bank must have recently reminded them: hey, we're getting $228,000 for the house BUT we want the rest of our loan back too because you didn't put it into the house. So now the sellers who have no money to pay the bank off are now deciding (AFTER THEY SIGNED A LEGALLY BINDING AGREEMENT TO SELL US THE HOUSE) never mind we'd rather go into foreclosure than sell you the house. They have owned the house for 36 years (what in the world did it even cost back then) and 36 years later they still owe the bank more than $228,000 on it? I just don't understand this situation at all.

So now we are kind of up a creek w/o a paddle. Kevin believes that this whole time the seller's agent has known about this situation, knew it might end like this and failed to tell us... which is a huge breach and makes the sellers agent liable too. Which at least makes the situation a little better because what's the point of suing bankrupt people for breach of contract? So we could sue the seller's agent too. Then again is it really worth suing them if this all falls apart? Would we waste more money than we would gain? Is it really worth the revenge? All this pain and suffering -- all this waiting and worrying and we may not get the house. I honestly felt like I was having trouble breathing after that conversation.

SO! Kevin is checking in with his boss and keeping us up to date. So far the guy... (there's a man and a woman -- we don't think they are married and at this point they may not even be together either if the seller's agent has to confirm with two separate people that they are coming to closing.) ...like I was saying: so far the guy is coming to closing. Which does us no good if the chick doesn't decide to sell. So she was supposed to get off of work at 4pm CST today and the seller's agent was going to try to convince her to come too. So we are waiting to hear from Kevin about her. Mike wants to punch these people in the faces when we see them at closing for screwing us around like they have - I don't blame him I want to too! This is ridiculous that this comes out Tuesday before we close on Thursday. I mean I don't even know what to say.

So that's that. Then there's this whole loan not getting finished in time. It was supposed to be final today but then they needed one more letter signed saying I won't be using more than 15% of the house for my job. So I sent that in but because it was one more thing they cancelled our closing. So now Lonna got it in as soon as I had sent it to her and is trying her hardest to get it back on track. So she thinks she can but we won't know until its approved -- which is why I am feeling a bit freaked out at the moment. I mean if it wasn't stressful enough before Kevin called now this. LORDY!

So I am trying to be patient but you can't help but wonder if this is some kind of sign from god. ***Psst - Don't buy the house.***

Well - One monkey off my back as of 5:37 pm CST our mortgage is approved. They ordered a mortgage insurance at 1-2 pm so they are waiting for that administrative piece to come in tomorrow morning before the put the closing back on the books but she said not worry about it and that she'd be calling back tomorrow with more details. Now that this is cleared - which originally was the scariest part - if those jerks don't sell us this house I am going to have a fit. I swear to goodness!!! Well I've worried about this enough today, I'll update this if I find out anymore, but until then I can't think about this anymore -- I am going to ride my bike a couple of miles or something.