We did not close on the house on May 24, which was the original closing date set on the contract. The hold up is with the Mortgage Company. We are approved for the loan, but in order for things to be finalized, they need to send an Appraiser out to appraise the house. This is to make sure that the property is worth what we are paying for it.
Apparently, Appraisers do not work directly for the Mortgage company. They are independent, and are hired by the Mortgage company, so the Mortgage company is at the Appraiser’s mercy as far as timing.
We’ve been given the ‘run-around’ so far. We were put in the ‘pot’, which I’m imagining is like a waiting list, and it was supposed to be at least three weeks before they could get an Appraiser out there. The Appraisal company decided that they could not get anyone out the area where the house is located, so the Mortgage company had to hire another Appraisal company, and we have gone into the ‘pot’ again…another possible three week waiting period.
Needless to say, we are very frustrated and feeling very impatient. We had hoped to have it all finalized by two weeks into June at least. (That will be when Bud is finished with school activities and we can get up there to start working).
I know that God’s timing is perfect, but we are feeling very stressed and impatient. It’s not only the time-factor, but also worry over it appraising for the amount we are seeking to loan.
We would much appreciate your prayers, if you feel so inclined.