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June 2012 Weddings

NWR: Happy, yet frustrated...

Let's start with the good news. FI got pre-approved! It's really complicated, but he's getting pre-approved for what he applied for, but $20k of that (the proposed down payment) has to be a "gift" from his parents and they need to show proof of it before we close. Our account with the CU is new and not used yet, so it only has $1k in it and they deemed that as us not being able to pay the down payment. We have most of that money, but his parents are going to help us out with it. When it comes down to closing we'll just pool our money together. So excited that he was pre-approved!

Now, the kind-of bad news: I talked to the CEO of our company today (we're a small-ish company, so everyone is on first-name, friendly terms with everyone, including the CEO. I once had cupcakes with him and my boss and coworker.) and he said that the job approval hasn't gone through yet because our new parent company hasn't appointed us an HR rep. It was supposed to be done late last week but as of yesterday there still wasn't anyone. He said he's going to follow up on it, though.

I'm not annoyed at my boss or the CEO, or even the CEO's boss. They're all trying as hard as they can to get this thing through ASAP. We've been a part of our new company for 2 weeks now and they still haven't appointed an HR rep? I hope they do like today because we aren't comfortable making an offer on a house until we're 100% sure I have a job (right now it's 99.9% sure). Everything's agreed upon, I know my salary and what I'll be doing, it's just a matter of making it official. Until then, I'm stll stuck working part time at $14/hr. If I'm not going to be able to start before Christmas I'm just going to take most of next week off. Even my boss says it's up to me how much I work because I'm not being paid what I'm worth.

Fingers crossed my boss has good news tomorrow afternoon when I'm at work again! I would be really bummed if we miss our opportunity at the house we love because of this situation...
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Re: NWR: Happy, yet frustrated...

  • L&J2012L&J2012 member
    500 Comments Second Anniversary 5 Love Its
    edited December 2011
    Thanks! FI and I actually looked this up last night, and for married couples they can gift up to $26k per year. We're hoping to only pay 5% down, the 10% (20k) was to help us get pre-approved.

    ETA: Stupid TK... For anyone reading this in the future this is in response to Sarah's post
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  • That makes sense!  We were looking into one person and not a maried couple.  Shouldn't be a problem for you then!
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  • Thanks! I'll find out more tomorrow, and he said he probably won't be able to get it done by early next week like I'd hoped, but I sent him an e-mail saying that all we need is an approval from our parent company (i.e., confirmation that I have a job there) to move forward.
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  • That's great news!  Hopefully all the paperwork will get completed and processed quickly.
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  • I think you can only "gift" somone up to $13,000 a year with out paying taxes on it.  I think that is the right amount because we looked into this route when we bought our house. 

    You may want to look into it soon.  Maybe they could "gift" you $7,000 before the end of the year and the remainder next year.  I just wanted to try and help so you can avoid having to get taxed on something silly.
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  • I just got a call from my boss. From the voicemail it sounds like it was approved and that he's working on the final paperwork to hire me full time!!
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  • That's fantastic news!  Somethimes things have a way of working out.  Congrats!
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  • Congrats on the job and the mortgage info!!! Two great things!!
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