Our realtor came over last night.
I guess it's not over yet.
We're gonna lower the price on our house by about 1 1/2 %, hoping to drive in some more traffic. We also have an open house scheduled for later this month.
And it appears that the bank that owns the house we want (did I ever mention it's a foreclosure?), really wants to unload it. When they found out we didn't get the loan, they contacted our realtor to see if they could work something out. The bank offered to fix some of the repairs at their own cost, thus lowering the total cost of our loan, increasing our chances of getting approved.
And... our realtor (who is also a licensed mortgage broker, although he's not practicing right now), doesn't think we got declined due to my bankruptcy at all. He thinks it's because the property we want to buy has a cistern. Apparently banks see that as some sort of liability (I did read about this on the internet), and they'll do anything not to approve you. He said that even though I have a bankruptcy, not only was it due to extenuating circumstances, but I've had perfect credit since then, and my overall score is actually very good when you factor in the bankruptcy (I'm in the upper 600s). So he wants us to try again, and go thru a different loan company.
FireMan & I haven't really had a chance to really talk about it yet, but it's nice to know we have options.
I'll keep ya posted!
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