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Just an update... exciting and nerve-wracking chain of events!


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I'll try and keep it brief...

 

Exciting:

The last couple weeks have been glorious! It all started when I posted a question about NFCU. Bob Wang (and other NFCU'ers) suggested we go for a CC and LOC with Navy. We both app'ed and were very pleased with the results; 21k & 25k Cash Rewards CC's and each received 15k LOC... two steps forward (more like four steps)! Thank you all for the suggestion!

 

Knowing we would be iffy on a mortgage because Amex updated DH's CR to reflect a CO that happened years ago to the CO in Dec. 2013, our plan was to wait for 6 months to apply. Long story short; Amex is pointing the finger at EQ and EQ is stating that Amex updated it to reflect the recent CO and a LO stated the recent update was the only thing holding us back. If we get it to report the actual CO date or sent a letter stating they would update to the correct CO date, we were solid for a mortgage. Anyway, a gorgeous foreclosure was brought to our attention and even though we knew it might take a bit before the Amex issue was corrected, we went and looked at it. OMG! Love at first sight. The house suits us just perfectly... easy commute to work for DH, quiet, large private lot, solid house, etc. (I could go on and on).

 

When we got home, we started planning for a "quick fix" to the Amex issue so we could place an offer on the house... call Amex and agree to pay them if they just update to the correct CO date and send us a letter stating it would be done, etc. We were going to put our plan in action on Monday. We ended up meeting with our boss and discussed work, his travels, etc. DH and I told him about the house and our issue with Amex and he said to go ahead and place an offer on it, and suggested an amount.

 

So, after the meeting, we called up the agent and placed an offer. A day later, the agent calls and emails me stating they needed the Highest and Best offer as there are multiple offers on the property now. Oh jesh! I made a quick call to our boss to get his opinion (we value his opinion highly as he is a very wise businessman who owns property and successful businesses all over the world). Well, here comes the additional step forward (leap actually).... he put a cash offer in on the house for us with 10k earnest down and said "good luck!".... He is going to owner finance 100% for us at 4.35%!

 

Nerve-Wracking:

Our agent said we won't know if the offer is accepted until sometime next week. I'm hopeful, but so worried because apparently the other offers are very close to the asking price, if not a little over. I hope the cash offer of 5k less than asking will be viewed as more desirable to Fannie Mae!! I haven't been able to sleep more than a couple of hours a night for two days now. I try to forget about it, and it doesn't work! Grrrrr. My nerves are totally gone!

 

Exciting:

Because our boss is going to help us by owner financing a home, we pulled the trigger on refinancing our vehicle. Originally, we were going to wait and do it after a mortgage was obtained, but since we don't have to worry about a denial, we went ahead. NFCU to the rescue!!! This CU is the absolute best!! They are financing 100% at almost 4% lower than our current loan... every bit of savings helps and the difference will be put into one of our savings accounts as we will never miss it. :)

 

Well, that's my update. I'll continue to working on our CR's, but now it will be a little less stressful in that department because the baddies that remain will all be gone by next year. :)

 

Wish us luck!

 

 

 

 

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Wow, never heard of a boss financing a home for an employee, he must really value DH. Congrats & good luck :)

I know! All of his employees from his various companies have nothing but great things to say about him... we always knew he was a wonderful person, but had no idea how big his heart was until now.

 

Besides paying a mortgage on time every month, how can we ever express how grateful we are of him? A simple thank you card doesn't seem like enough.. any thoughts? I would invite them over for dinner, but I admit I am a terrible cook and it would probably gag them.

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That's a good boss.

 

Believe it or not,

 

you just have to express your thanks.

 

People with means do that for good people,

 

and they feel good doing things like that.

I suppose you're right Bob. I have never been in a position to do anything remotely comparable, but if I could, I do know it would make me happy to know I made a difference in someone's life.

 

Sounds like you're one busy marble!! Congrats on the house. :clapping: I need to get me a boss like that. All I got was a box of jelly samples for Christmas and no raise in the last 1.5 years.

Funkie.. we have been busy and it feels so good. Thanks for the congrats on the house; I'm hoping the offer is accepted! Maybe your congrats is a sign it's going to happen.. one can hope. :) I / we do have a good boss, and I wish everyone could experience such. Believe it or not, when I first became an employee of his, I had mixed feelings; he bought our business. It was hard to let something go we worked so hard at, but it was a relief at the same time. Although we didn't profit or lose from the sale, we gained so much more in the end! I am a true believer in Everything Happens for a Reason. :)

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Sounds like you're one busy marble!! Congrats on the house. :clapping: I need to get me a boss like that. All I got was a box of jelly samples for Christmas and no raise in the last 1.5 years.

That makes the holiday turkey my husband receives at work every year seem especially generous, lol!

 

OP, that is one awesome boss, wow!! What a blessing!

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Sounds like you're one busy marble!! Congrats on the house. :clapping: I need to get me a boss like that. All I got was a box of jelly samples for Christmas and no raise in the last 1.5 years.

Jelly samples? That makes the holiday turkey my husband receives at work every year seem especially generous, lol! Well, he does get a week off with pay between Xmas and New Years, as the factory he works for shuts down that week. Can't complain about that.

 

OP, that is one awesome boss, wow!! What a blessing!

Edited by RedHairedLady
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Wow, never heard of a boss financing a home for an employee, he must really value DH. Congrats & good luck :)

I know! All of his employees from his various companies have nothing but great things to say about him... we always knew he was a wonderful person, but had no idea how big his heart was until now.

 

Besides paying a mortgage on time every month, how can we ever express how grateful we are of him? A simple thank you card doesn't seem like enough.. any thoughts? I would invite them over for dinner, but I admit I am a terrible cook and it would probably gag them.

 

 

Send him a heartfelt letter thanking him for his incredible generosity and let him know how much his kindness means to you.

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