Homeless in 50 days
Donation protected
This is extremely hard to write but we literally don't know what else to do and are looking for help anywhere we can get it.
Come May 31st, we are essentially homeless and I will explain why.
My wife and I recently had a baby and because of this, we officially ran out of space in our home. It's ridiculous to say but 4 bedrooms does not fit a family of 6. So we decided to try and buy a new home. First thing we had to do was put our home up for sale, which we did and priced it modestly at $95,000. Immediately after going on the market, we had a cash offer of full asking price. After talking with our realtor, we excitedly accepted the offer and began searching for a new home for ourselves.
After finding what we thought would be the perfect home for us, we put in an offer. After 24hrs the loan was accepted and we were on our way to purchasing a new home. Fast forward a few days ago and the prospective buyer completed their home inspection, shockingly and unexpectedly the home inspection came back with countless repairs and updates needed for our sold home. Updates on the report included a new section of roof and chimney, new water heater, foundation work, garage repairs, electrical repairs, and plumbing repairs.
Shocked by these claims (because we have had professionals out to repair any issues as they arose in the past and have always gotten thumbs up that no new issues were present and knew of no major issues prior to this), we were greated by a statement from the prospective buyer that either he gets the house for 10k less or he walks. Not sure what to do, our realtor informed us that with these new "issues" brought to light, we would be better off accepting his new offer. Sadly, we did.
After the offer was accepted and contract signed, the bank contacted us as they were setting up their loan paperwork and discovered that we no longer qualified for a mortgage with them. The 10k less in payment removed us from thr qualified bracket and put us in the not-eligible side. The house we put in accepted offer in was now off the table, and the house we currently call home cannot be held onto. Making this new situation known to the prospective buyer and their realtor, we were met with the response of "if you try to back out of anything, you will be taken to court." Just like that, we lost two homes.
The bank was no longer able to offer us any other options so we made quick work of finding someone who could help us out on the financial side. While we did manage to find someone who could help us, we were greeted with another obstacle, $4000 that needed to be removed from our debt to income ratio. With that in our way, the approval cannot go through and we cannot get our family into a home before May 31st. We are trying everything we can but continuously find ourselves short and unable to move forward. And this is why we ask for help.
We never thought it would come to this but it has, and we honestly don't know what to do. All we wanted to do was provide a better home for our kids and things went south real fast. I know most will view this as begging, but when you have to pack up your kids' stuff with no clue on where it's going to go in 50 days, you do what you need to do.
Come May 31st, we are essentially homeless and I will explain why.
My wife and I recently had a baby and because of this, we officially ran out of space in our home. It's ridiculous to say but 4 bedrooms does not fit a family of 6. So we decided to try and buy a new home. First thing we had to do was put our home up for sale, which we did and priced it modestly at $95,000. Immediately after going on the market, we had a cash offer of full asking price. After talking with our realtor, we excitedly accepted the offer and began searching for a new home for ourselves.
After finding what we thought would be the perfect home for us, we put in an offer. After 24hrs the loan was accepted and we were on our way to purchasing a new home. Fast forward a few days ago and the prospective buyer completed their home inspection, shockingly and unexpectedly the home inspection came back with countless repairs and updates needed for our sold home. Updates on the report included a new section of roof and chimney, new water heater, foundation work, garage repairs, electrical repairs, and plumbing repairs.
Shocked by these claims (because we have had professionals out to repair any issues as they arose in the past and have always gotten thumbs up that no new issues were present and knew of no major issues prior to this), we were greated by a statement from the prospective buyer that either he gets the house for 10k less or he walks. Not sure what to do, our realtor informed us that with these new "issues" brought to light, we would be better off accepting his new offer. Sadly, we did.
After the offer was accepted and contract signed, the bank contacted us as they were setting up their loan paperwork and discovered that we no longer qualified for a mortgage with them. The 10k less in payment removed us from thr qualified bracket and put us in the not-eligible side. The house we put in accepted offer in was now off the table, and the house we currently call home cannot be held onto. Making this new situation known to the prospective buyer and their realtor, we were met with the response of "if you try to back out of anything, you will be taken to court." Just like that, we lost two homes.
The bank was no longer able to offer us any other options so we made quick work of finding someone who could help us out on the financial side. While we did manage to find someone who could help us, we were greeted with another obstacle, $4000 that needed to be removed from our debt to income ratio. With that in our way, the approval cannot go through and we cannot get our family into a home before May 31st. We are trying everything we can but continuously find ourselves short and unable to move forward. And this is why we ask for help.
We never thought it would come to this but it has, and we honestly don't know what to do. All we wanted to do was provide a better home for our kids and things went south real fast. I know most will view this as begging, but when you have to pack up your kids' stuff with no clue on where it's going to go in 50 days, you do what you need to do.
Organizer
Adam Benedict
Organizer
Janesville, WI
