Of Course

July 15, 2009 at 10:05 PM | Posted in Journal | Leave a comment
  Of course I’m fucking upset.
  First they do a drive-by appraisal of my old house, which was worth 90 thousand dollars.  Yeah, it’s 77k now.  The guy came over to my house on SKylark Saturday for a walk-through appraisal, and I just got the results today.
  Under normal circumstances, Skylark would be worth 130, maybe 140.  It appraised at 98 thousand.  Ninety-mother-fucking-eight-goddamn thousand.  Fuck me.
  You know what the point is, if you’ve been paying attention.  I’m trying to refinance this loan, plus get cash out.  The loan is 72k, and with the *initial* cash out plan it would have been 90k.  And that is a concession, not giving me the complete cash-out amount that I need.
  Since I work here–or maybe because of my credit AND because I work here–they only want to do a 65% LTV.  I thought that was okay when I thought the house was worth more.  Christ.  Well, that’s the whole reason they wanted to do the cross-collateral.  In other words, they want a lien on the other house as well.  That means I need to have it in both my name and my sister’s name.  So half the value of CPW plus the full value of Skylark times 65 percent is not quite the loan amount.  I’m not even sure they meant for it to be that way, so close to the edge.  If I don’t get the cash out to pay for the things I need to fucking pay for, then what the fucking fuck-shit is the fucking point, dammit?  Fuck, fuck, fuck.
  I sure hope I’m not the only one to get fucked in this market.  I’d hate to be alone in this.

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