Deal still alive!

Well, I thought this deal was on life support, but it looks as though it might go through after all!

Definitely need to sit down with my mortgage broker after this and go over all investor options that are open.
Stated income isn't likely to work anymore.
We are shooting for a closing date of 12/6 or a little earlier.

Wachovia funding

Well, Wachovia dropped a bomb today. They are no longer doing funding for investors. So even though they have given us the conditions, they won't close the loan. How about that?!?!?

We have the back-up bank on the table now, and have submitted all conditions to them. The interest rate is higher, though.

Trying not to be irritated about all this, but it is difficult LOL!

Mortgage issues

I am not sure the funding for this deal is going to go through. We are stated income, so it is already difficult in this climate - but it is really getting annoying.
The bank keeps asking for more information, and then doesn't respond with what they want for conditions. We have some conditions, but the bank says there will more *if* they decide to go ahead and fund.
MAKE UP YOUR MIND ALREADY!!!

Either yay or nay, but quit stringing me along. It's too late now to go for hard money, with closing date of Monday, so the deal will die.

Oh well, I think for sure next time I will do hard money to avoid all this crap. Just means I need to get the property for even lower.

Laminate floors

Well, this isn't a rehab house - it's our own, but there is always work to be done!
Here are a couple photos of the new flooring we put down in our bedroom. Got it at Lumber Liquidators. $1.69 a square foot, and has the underlayment attached to the boards. It's click and lock flooring, but not many of the boards clicked into place. We had to do a lot of tapping to get them to lay flat. Once we got past the first couple rows - things went much smoother.

Closing soon

Got some conditions back from the bank today. Some of them are a PITA, our broker actually submitted the loan to 3 different banks, just to see who had the better offer to us!
When looking at this loan vs hard money
My loan is 7.875 % with 10% down, no points state income. 30 year fixed, no prepay penalty (need for flips!). 4-5 weeks to close

HML - 14% interest rate, plus points. No prepay penalty. 2 weeks to close.
Which would you choose???

I read this whenever I get irritated with the banks.
The latest the closing will be is the 20th of November. Might have a bit of trouble getting workers to come in that week, with Thanksgiving - but I can at least get started on demo.