Delaware

Sad News :(

I am crushed right now, and I couldn't post this last night when I found out because I was so upset and heartbroken over it.We won't be able to get the house this year.  FHA changed their guidelines on July 15th, and because of it, FI and I only qualify now for $60k- far too less to get the house.  Basically, the rule used to be they took into account if you were working 40 hours a week for school, which he used to work 35 hours during the last few semesters while going to school.  Now, they don't take that into account, and they say you have to have worked 40 hours for the past 2 straight years, or you don't qualify by yourself.  If he had someone to cosign with him, it would be okay, but there's no one to do that, unfortunately.  I am so pissed off and devastated.  I am pissed that the FHA thinks to just change the rules without any notice to anyone, including our mortgage agent- we are doing it now on more money than it would cost for the mortgage on the house, how do they think we do it now?  I am pissed that the mortgage guy waited 2 weeks to tell us- we could have cancelled the home inspection and saved $600, but he didn't tell us.  I am pissed at the government- they put out that rebate, and then do sh!t like this, how do they expect anyone to jump through the hoops to own their first home, there's too many!  Brian talked to a couple attorneys who do real estate, and they said that because of this, they are expecting an additional downward slope in the market- they say that FHA/government was plain stupid to put this into place.  I am pissed that they did it right in the middle, without any thought to those who are buying a home- at least make an announcement that you are changing the rules before you do it!Overall, I am such so heartbroken, as is FI.  We already terminated our lease, based on the mortgage broker and realtor's suggestion.  I guess it's onto looking for another apartment- one we can afford and that's in a good area.  Any suggestions?  We can do $750-800 a month.

Re: Sad News :(

  • MrsJax09MrsJax09 member
    First Comment
    edited December 2011
    Sorry to hear this brit. I think my friend is moving into Apple Chase on Rt 40 soon. I remember looking into them when we were apt searching years back and they were nice.
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  • lmicoluccilmicolucci member
    First Comment
    edited December 2011
    That SUCKS big time Brit!  I dont' knwo what apartments are going for this day and age.  when I had my apt 10 years ago for a 1 bedroom, it was $600 a month.  That was at Stratford Apts in N. Wilm on Naamans Road.  They were nice, and across fromTarget and near the mall.
  • edited December 2011
    I cant help with apartments, but Im so sorry Brit - that really super sucks :(  I cant believe they wouldnt say anything before the inspection.  Anyway you can speak to your current landord and cancel your notice so you dont have to move?  Im guessing theres not a line to get in, and he might just be able to forget about it... Sorry about the house - you guys have been looking so long, it really sucks :(
  • edited December 2011
    Thanks, girls.  I am trying not to cry over it, it's just that I was so excited to be moving and getting our first home- Brian even said that our Christmas present to ourselves would be a puppy.  Now, I can't do that, it wouldn't be fair to the dog in a tiny bedroom.Steph, honestly, we don't want to stay here, it's been terrible living here from day one.  We kind of have a plan worked out- his dad has been looking for office help, and has put it on hold because they want me to do it once I am better, so Brian is going to talk to his dad about working something out for the time period before and during surgery recovery, and then once I am on the healing road (recovery is about 8-10 weeks, but I will be able to move about at about 3 weeks), me coming in and working in the office for the family business.  Hopefully, that will give us enough income to bump us up to a 2 br or a larger 1 br, and we can start saving for the house.
  • amlinton1615amlinton1615 member
    First Comment
    edited December 2011
    That stinks about the house Brit.  I don't know the price ranges but School Bell, Christiana Meadows, St. Andrews, Rockland, Brandywine Woods.  These are places we looked when we were looking.  GL on the apartment hunt.
  • amlinton1615amlinton1615 member
    First Comment
    edited December 2011
    I think I met Rockwood for Rockland, LOL.
  • edited December 2011
    Britt, i'm so sorry to hear about this! Praying for you guys to find an awesome place!!
  • edited December 2011
    I'm so sorry Britany!! I hope you find a new apartment soon! I live in Pike Creek and I know there's Pike Creek Apartments and apts on Skyline Drive too. I'm not sure how much they are.
  • ImMrsFranksImMrsFranks member
    First Anniversary First Comment
    edited December 2011
    If you live in Newark, Valley Stream Village Apartments are pretty reasonable for the quality. Hope everything works out for you!
  • Santorini2011Santorini2011 member
    First Comment
    edited December 2011
    Yuck! That's so unfair! Try Village at Fox Point. There are normally expensive but they are running specials that put a 2 bedroom townhouse (not apt) into the $700-800 range. Look at www.villageatfoxpoint.com for pics. If you have any interest in renting a house in New Castle by the airport for ~$950, email me though.
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