We broke our contract with Ivory Homes today. No dream house. No moving.
We started this journey last November. We knew having a house would be more responsibility, but we felt like it was a sacrifice we couldn't afford to pass up right now, especially with the rates, Devin had been accepted into the police academy so we knew he would be making more money with in the year, girls would be starting school which would mean less daycare costs. It seemed like the perfect time.
We started looking at homes. Finding nothing that fit our tastes/desires/financial needs. We thought about building...put it on hold and than meet with Ivory homes in January. My credit was not perfect but the "promised" they could fix it. Everything looked "great" we signed a contract with them stating they would get us to our needed credit score. We could start building, digging, everything. The guy even said something to the effect of "If we didn't think it was do-able we wouldn't let you sign" We left that meeting feeling great, happy, excited for our future.
We started looking at homes. Finding nothing that fit our tastes/desires/financial needs. We thought about building...put it on hold and than meet with Ivory homes in January. My credit was not perfect but the "promised" they could fix it. Everything looked "great" we signed a contract with them stating they would get us to our needed credit score. We could start building, digging, everything. The guy even said something to the effect of "If we didn't think it was do-able we wouldn't let you sign" We left that meeting feeling great, happy, excited for our future.
Over the past 7 months all of that has disappeared.
Our Realtor (which they assign to you...) has not been great to work with. Even over charged us on things that the building contractor reimbursed us for.
The financial team has told us different stories every week. I have so many emails saying "pay this amount to these people" and than days later asking why I paid them. They pulled my credit 7 different times in the month of July causing my credit score to go down by 40+ points with no explanation of why they pulled it so many times.
They transferred our account to a different mortgage company adding extra fee's making our interest rate higher and changing the amount we were comfortable paying for a mortgage. The loan officer said they would hold the house until our credit score was where we needed it to be (18 points off as of right now) however the Realtor said they would not hold the house and we needed to either finance this week or walk away.
So here we are...walking away.
Devin has since withdrawn from the police academy, Abbie still needs half day care which isn't much cheaper. Things we thought we had figured out have all fallen through. We defiantly feel like this is the smarter choice and right decision, but it doesn't make walking away any easier.
That house with all the style, color choices, ideas, memories I had already imagined happening are gone. That house that every time I walked into it I felt at home is going to belong to someone else. I'm heartbroken over it. I hate thinking about having to tell our neighbors, friends, family that have all been rooting for us and have been so excited for us that its not happening.
I know eventually we will be able to get into a house, possibly even build again... I know things will work out and we will be better off but for today I'm sad.
Our Realtor (which they assign to you...) has not been great to work with. Even over charged us on things that the building contractor reimbursed us for.
The financial team has told us different stories every week. I have so many emails saying "pay this amount to these people" and than days later asking why I paid them. They pulled my credit 7 different times in the month of July causing my credit score to go down by 40+ points with no explanation of why they pulled it so many times.
They transferred our account to a different mortgage company adding extra fee's making our interest rate higher and changing the amount we were comfortable paying for a mortgage. The loan officer said they would hold the house until our credit score was where we needed it to be (18 points off as of right now) however the Realtor said they would not hold the house and we needed to either finance this week or walk away.
So here we are...walking away.
Devin has since withdrawn from the police academy, Abbie still needs half day care which isn't much cheaper. Things we thought we had figured out have all fallen through. We defiantly feel like this is the smarter choice and right decision, but it doesn't make walking away any easier.
That house with all the style, color choices, ideas, memories I had already imagined happening are gone. That house that every time I walked into it I felt at home is going to belong to someone else. I'm heartbroken over it. I hate thinking about having to tell our neighbors, friends, family that have all been rooting for us and have been so excited for us that its not happening.
I know eventually we will be able to get into a house, possibly even build again... I know things will work out and we will be better off but for today I'm sad.
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