Thursday, October 2, 2008

Thursday Morning

I'm going to post for Mark today - he's not feeling up to snuff and asked that I do this for him today. I think, personally, he saving all his strenght to hiss and boo at the tv tonight in the VP debate. He wanted me to be sure and give kudos and great thanks to Nancy for coming over last night and helping me clean my deck and spa. I haven't had the energy or gumption to do it for so long it was an attrocious mess. So thanks, Nancy - we love you.
I am again fighting the system to try to get Mark a Lifeline connection that I have been told will be paid for by Medicaid. Now, everybody but Medicaid seems to know just what I am talking about - even the Lifeline people. However, I have talked to at least four different Medicaid reps and they all have their fingers up their noses and can't seem to figure out how to help me. Give me strength!!!! I'll let you all know how it turns out.
Our own personal touch with the economic meltdown: My son, who has worked very hard over the years to have stellar credit (810 score - not shabby), found a condo here in Florida to buy. It was a short sale (the bank had to agree to the sales price and to take a bit of a loss on the original loan), which they ultimately did. HOWEVER, during all the "crap" that has surfaced over the past two weeks, the requirement for him to buy the condo has gone from 5% down to 10% down to 20% down (all on a $60,000 loan), followed by "we won't make the loan at all - it's not you, it's Fannie Mae." Seems there is a previously little used provision for Fannie Mae underwriting that says that the criteria for determining if a loan will be made on a condo is "what a comparable unit IN THE SAME COMPLEX has sold for in the past 12 months." Anybody who hasn't had their head under a rock knows that nothing has sold down here (or anywhere else for that matter) for more than a year. So, they are refusing to loan at all because they don't have a comparable. That's all well and good - hooray for rules - but he was told about this three days before closing was scheduled. His furniture was in the moving van and he had already given notice at his rental. (Don't worry - he's not under a bridge somewhere - not that they care). He has been given some insight on a way to fight this, and he will, at significant expense to himself, be doing so, because if he can win the fight, he can help out a lot of condo owners here who will be sitting on assets worth absolutely nothing - not just the devaluation they thought they had experienced. I'll also let you all know how this turns out.
Okay - I'm done - have a great day. We are getting ready for a visit from our son from Michigan - a quick trip in over the weekend. Be blessed and NEVER GIVE UP!

2 comments:

Carol said...

Thanks for the update, Rebecca, and good luck to your son.

Enjoy the weekend!

Travis Cody said...

That's a shame. Good luck to him.