For anyone wondering, we do have a new approach to closing on our home. If you have followed along, you may remember that we have to treat our closing as a re-finance even though we have never had an initial close, due to the fact that we are currently living in it. We have switched to a bank that will loan 100% on a primary home re-finance and 75% on a rental re-finance. At this point, we are going to re-finance our old home, which is currently a rental, in order to take cash out to pay down our home enough to close on it. It should work fine and we seem to be moving in the correct direction; we even had a termite inspection yesterday.
On a disappointing note, we were hoping to cash out enough to pay off another real estate loan that is higher interest, but the house didn't appraise for enough to do both. Did anyone follow that?
At this point, there are many around us being laid off, so I'm thankful that JD has a great job and I'm going to be very thankful if we can just close on the house. The rest will come in time; the hardest part is waiting to begin the adoption we are so excited about. Waiting isn't my favorite thing to do!
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