Monday, May 28, 2007

I think it’s time for new gloves.


I have some good news :) One of the carpenters I received an estimate from said his father remodeled his kitchen and is getting rid of some nice cabinets that he could give me for free! Aww :) That’s so sweeeet! I just may take them, if they’ll fit my kitchen well. So nice of him!


Hey… I have a beautiful mountain view in my backyard now ;)


Wednesday, May 23, 2007

Bad news. I talked to my loan officer tonight. The loan I’ve been hoping to get… won’t help me. There’s no point in applying for the loan I’m eligible for. The loan offered to me requires that the contractors be paid in full 1 or 2 days after the job is complete. My loan officer said that the loan will work like this …. I hire a contractor to do a repair, then when the job is finished I notify the bank, then the bank sends over an appraiser to look at the work done, then the bank transfers the money I need to pay him into my account (which will take 1 or 2 days) and then finally the contractor will get paid once I withdraw the money from my account to pay him. The problem is… all the contractors I’ve met require half the money down first and the other half paid the day the job is finished. NO contractor is going to do a repair for me without half the money first and NO contractor is going to do a repair for me if they’ll have to wait a couple days to get paid after they’ve finished the job. So, there’s no point in applying for this loan. It will do me no good. I would have no control over the money in order to pay the contractors the way they require. I’m at a total stand-still now. I have absolutely no idea how to move forward.

I would have to keep saving my money and do just one repair at a time when I can afford it. The first repair would need to be the support beam. But let’s say the support beam ends up costing me $5000 to fix… it will take me 6 to 7 months to save that kind of money! Maybe longer! I’d have to kiss this summer goodbye. It could take years to finally move in. I really wanted to move in this summer. I don’t think it’s gonna happen now.

I’ll be contacting other banks to see what can be done. And I’ll also keep doing whatever repairs I can do on my own in the meantime.
Keep you posted.