House Update

As many of you know we have just reached the seven month in our home search. The last three have been a little more intense. We found a house we really love in Draper. We made an offer and it was accepted but with a contingency of attorney approval.
You see, the owner of the house can no longer afford to pay his mortgage. So he signed the land title over to a company that helps people not go into foreclosure. So I have been working with them and the listed agent. So after a little more than a month we are still waiting for an actual approval and acceptance of our offer. The home is a short sale. But we didn't know this until a week or so ago. We didn't really want to get involved with short sale homes from the beginning. Basically the owner has three (yes, I said THREE) mortgages on the house and therefore has to be approved by the Mortgage Company, bank, Mortgage Insurance Company, Trustee, your mom, Attorney and now Fannie Mae. (okay, not your mom but you know what I mean) The good news is that everyone has approved and now we are just waiting to hear back from Fannie Mae. It should take a week. And once that is done we will be able to close in 6 days! It has been a very tiring experience to say the least. There is, however, a chance that Fannie Mae could reject the offer. So as a precaution we are still continuing our desperate search for another perfect home.
We are pleading with you to please, pray for Fannie Mae to approve this offer! Despite of how you may feel about them! ha ha :) We are anxious to get this thing over with! Until then, we will keep you informed of all the wonderful twists and turns of this never-ending short sale we hope to one day call our future home.

Please read my personal plea to Fannie Mae.