Now that's a title.
It's easy to get into a post Christmas/early New Year funk. You overspent. You didn't get what you wanted under the tree. You spent New Year's Eve at home. You missed someone at midnight. You don't make resolutions. You do make some, but have already started to falter. But no matter how bad or how good these last few weeks have been, hopefully you have someone, or multiple someones, who you can count on to cheer you up, build you up or simply make you feel loved. (For the record I only qualify for maybe one of those "You" statements.)
Unfortunately, these loved ones cannot always stay out of the things that drive you crazy or bring you down, so then your stresses and frustrations are even worse. For me, this manifested itself yesterday after quite a promising start. (attention...maybe contain work like (mortgages!!) substance) Almost immediately after I arrived at work, I checked on the status of my mom's file. We were waiting on the appraisal company to re-evaluate the appraisal they completed, as we felt the property had more value than what they originally returned. To be delight, the new value was now high enough to complete the loan, and only slightly lower than our estimated value. This only meant a quick phone call to my mom to change some numbers and we were looking good. HUZZAH!!!
Now I was very ecstatic about this for several reasons... a) it's a new, better loan for my mom... b) the appraisal company cancelled my original order, then did the wrong type of appraisal, then I had to re-order the correct appraisal, and it still came in massively undervalued... c) the new value was high enough to do the new loan (the original value would not have been sufficient), and only required a few slight changes... d) with this new loan I was going to be able to help my mom pick out new furniture & a new TV (woot!)
So as you can see, I was pretty out of control excited. Well...fool me once (d'oh! already happened before), shame on you... fool me again, SHAME ON ME!! Why did I think my processor wasn't going to screw this up?!?! Wishful thinking I guess.
So now its later in the day and my mom's file is not dead in the water, but its not looking so good. The income was entered in incorrectly, and then a new pay stub was needed bc its not longer November (when the loan was exported), and that one had even less than the original amount, but was still too high. So now this new income figure is not big enough to support the loan amount needed to payoff the existing liens. YAY MORTGAGE TERMINOLOGY!!! What we're now waiting/hoping for is a letter stating my mom will be getting a $3 raise. Yep. A $3 raise/hr. solves all these income issues. Yesterday it looked as though she might get to sign her docs and close next week, but now it looks as though this file might not close until month's end. AWESOME...only TWO MONTHS to do a simple refi.
I'm so beyond irritated and upset right now. And I know it's mostly because this is for my mom, but regardless this file has been problematic...and its not the borrower's fault. Thankfully for us, it is my mom's loan, so she's understanding and won't get all pissed off....unfortunately it is my mom's loan and WaMu is dropping the ball big time. Woo hoo! Look where I work mom...we can't do anything right!!!
Good thing I gave up booze for 2008 or I'd probably be heading to a bar after work...or right now. Looks like the new responsible "me" is getting its first test...and this guy is hoping he passes the test...and that his employer does too.