SO CLOSE - I need some reassurance!!!

[Jman30]

Ok, I heard from my lender today and we are scheduled to close next Wednesday, 8/23, on our Chapter 13 Buyout via a refinance.

The final piece of information we needed was the official Chapter 13 payoff and it came in this morning....and it came in around $10,000 LESS than what I thought. I thought it would come in around $27,000....but it came in at $19,430....not that I am complaining..I obviously was calculating something wrong.

Now I have been posting here for a long time and I have to say, I am sort of a man's man...sort of a guy's guy, you know? Cut myself working around the house? It's nothing. I practically have to be near death before I will go to a doctor!! But when my lender (who has been SUPER to me) called and said we were all set, all that was left was the sign-off from HUD and the Trustee......I was sitting here at my desk, speechless, my eyes filling with tears. I could barely talk. I keep waiting for the bottom to fall out......I even asked her if at this point, ANTYHING could go wrong....she told me to relax, the underwriting only had three conditions and she already satisified all those...all we needed was the official HUD signoff and the the Trustee signoff......

I have only been speechless a few times in my life....and sitting here at my desk with teary eyes is a FIRST, believe me.

I can't believe I am so close to this all being over...and with the mortgage payoff and the chapter 13 payoff being so much lower than I thought, we stand to walk away with $12-$15K at closing....it is almost too much to believe.......

Can anyone think of anything that can mess this up at this point? Anything?? I can't let myself believe this is almost over..the last 20 months have been filled with so much angst and dissapointment....I am soooo afraid to let myself think positive......what can go wrong? I need to prepare myself for the inevitable bottom dropping out on me.......

[M900]

I closed my loan two weeks ago and checked NDC yesterday and they have sent the payoff money to the trustee so I know exactly how you feel.....it took 3 months several set backs numerous last minute papers to be signed including couriers running to my work the day my loan was supposed to fund which is 3 days after you sign and then they got back to the office late and didn't fund that day, I literally left work early cuz I couldn't take it, we had one lender change his mind, the original title company wouldn't give us title insurance cuz we had a lien stripped from our house with a federal court order so we had to get another title company..I'm leaving out 10 different things but no matter how much lenders and such told me not to worry , worry I did....the day the money finally transferred into my account I sat there speechless......I even printed off my account balance from my computer, then drove to an ATM to check my balance again cuz I didn't believe it....since then I've paid off my back taxes bought a washing machine I've needed for months and still yesterday got a letter that I needed to send back to the lender because I didn't sign my middle initial and when I read the letter my heart sunk!! Worried they were somehow gonna take the money back!! This weekend my house caught fire in a completely freak accident but was saved by two kids with a hose and a random lady walking by who started screaming my house, dogs and everything inside were literally a minute away from being destroyed....I sit here now while the contractor is fixing my front door which the firemen kicked in and the electrician is fixing the damage thinking back of what was basically 2 years of debating my filing of ch.13....3 yrs of paying on it and now thanking the powers that be and feeling lucky....I start a new job in a couple weeks and go on vacation next week for the first time in 5 years.....I don't know if this helps you but I needed to put it in writing......If your signing papers soon.......your wait is amost over freedom is coming.

[$$only4ever]

Jman,

I just wanted to say Congratulations! I have read several of your posts and am always impressed with your knowledge and how polite you are with everyone. It just proves that "Good things do happen to nice people."

[13inOR]

Jman, I know the feeling...this was me last February....but I think it sounds GOOD for you, I really think you are home free now.
I am happy your payoff was lower, too. Thats the best part. Now you can start off with savings cushion to help for the future.
Best wishes to you and your family!!

[lrprn]

We couldn't be happier for you, JMan!! Good things really do happen to good people - you are living proof! Enjoy the moment and then start enjoying your fresh, new start (remembering all you've learned about handling money well, of course!) CONGRATS - you survived and now you will thrive!

[CAB_44]

Congrats JMan!!!!
I'm envious for you!!!
I am just getting started at what looks to be a long and winding road......it breaks me to tears if I think about it too hard and for too long~ but YOU ARE an ENCOURAGEMENT to me and obviously many others here!! Best of the BEST to you friend!!!!! I wish you many many BLESSINGS!!!!!!
CAB

[miss puff]

Jman this is such great news. I too have read many of your posts and found much encouragment from them. I am so glad you can put all this behind you and move forward with your fresh start. Maybe you can go on a great vacation with the extra money. So happy for you.

[bkdone]

Ok, I heard from my lender today and we are scheduled to close next Wednesday, 8/23, on our Chapter 13 Buyout via a refinance.

The final piece of information we needed was the official Chapter 13 payoff and it came in this morning....and it came in around $10,000 LESS than what I thought. I thought it would come in around $27,000....but it came in at $19,430....not that I am complaining..I obviously was calculating something wrong.

Now I have been posting here for a long time and I have to say, I am sort of a man's man...sort of a guy's guy, you know? Cut myself working around the house? It's nothing. I practically have to be near death before I will go to a doctor!! But when my lender (who has been SUPER to me) called and said we were all set, all that was left was the sign-off from HUD and the Trustee......I was sitting here at my desk, speechless, my eyes filling with tears. I could barely talk. I keep waiting for the bottom to fall out......I even asked her if at this point, ANTYHING could go wrong....she told me to relax, the underwriting only had three conditions and she already satisified all those...all we needed was the official HUD signoff and the the Trustee signoff......

I have only been speechless a few times in my life....and sitting here at my desk with teary eyes is a FIRST, believe me.

I can't believe I am so close to this all being over...and with the mortgage payoff and the chapter 13 payoff being so much lower than I thought, we stand to walk away with $12-$15K at closing....it is almost too much to believe.......

Can anyone think of anything that can mess this up at this point? Anything?? I can't let myself believe this is almost over..the last 20 months have been filled with so much angst and dissapointment....I am soooo afraid to let myself think positive......what can go wrong? I need to prepare myself for the inevitable bottom dropping out on me.......

Hi JMan... BKDone here. Can I just say...I told you! I cant explain it either, but mine came back $10K less than I thought I would have to pay too. But, to that I say, "Dont worry about it." Before they send out the final tally they check and check again. This is court ordered proceeding, and they have done it a thousand times. There are things I am still learning and I too sat worried that something would go horribly wrong at the last minute. When the loan funded 3 days later (Yes, you have to wait 3 business days) I was speechless and thought I'd cry or throw up. Wasnt sure which. I kept staring at the balance of my checking account online...I was giddy.

So, relax as best you can. And here's to you and your paid-in-full BK13!!! It feels good, huh?

[Jman30]

Thanks everyone.....I feel better this morning, even if I didn't sleep much last night. And don't get too excited yet....I haven't closed yet. I am scheduled to close on the 23rd.........I just know how I am. I am a serious Type-A personality and the Pope himself could tell me it would be ok and I would STILL worry!!!!

[bkdone]

Thanks everyone.....I feel better this morning, even if I didn't sleep much last night. And don't get too excited yet....I haven't closed yet. I am scheduled to close on the 23rd.........I just know how I am. I am a serious Type-A personality and the Pope himself could tell me it would be ok and I would STILL worry!!!!

This has definitely been a valuable experience for me as well. I never thought in a million years that I'd file BK. I thought BK was for losers! Now that I have done it, and come thru it, I see how easily I got caught up in my own spending and my lack of good decision making. Like you, I will NEVER get caught in this mess again.

I came to realize that if you look around...at those friends and co-workers to seem to have it all.... Well, they are probably $20K in credit card debt and they are just one missed paycheck away from bankruptcy themselves. I am not envious of anyone with a huge home (huge mortgage) or their fancy SUV with custom rims...(huge payment and huge credit card payment).

I came out of this thing in a really good spot. I have my house, 2 relatively new cars, and my sanity. I sleep at night now and I'm much nicer to my family. Overall, the BK was worth it. Every fretful minute was worth it.

[Jman30]

Holy Crap - I just talked to my lender. I got the CLEAR TO CLOSE from the underwriter......I am scheduled to close at 4pm on August 23rd.

She told me there is NOTHING that can go wrong now. Nothing. Everything is completed and signed off on. The only reason we can't close sooner is that the Title Agency is closed on Fridays and is booked next Monday and Tuesday. They could have closed us earlier on Wednesday the 23rd, but my son has Kindergarten Orientation that the parents have to go too as well......

How amazing to be starting over like this.....!!!!!!! My son starting school, getting out of the BK next week....

I know a few of you folks have closed out like this...I have between $5-$8K coming back, they aren't sure yet of the final figures. If I close on the 23rd, the loan will fund on the 29th. At that point, she said the title company will overnight me a check? Does this sound right? Or can I have it direct deposited into my account?

[CAB_44]

true true BKdone...what you said about friends and co-workers~ I NEVER thought that I would do the BK thing either...NEVER.....but here I am~ and I'm ok with it at this point....I'm SICK of being "spent" literally~
JMAN~ RELAX!!!!!!!!!!!!!!!! IT"S ALL GOOD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[bkdone]

JMan,
Spend the extra $15 (they will deduct it from your proceeds) and have the money wire transferred into your checking account. Otherwise, if it comes by check, the bank will put a 5 day hold on the money. The money will hit your account the same day that the loan funds.

[lrprn]

Holy Crap - I just talked to my lender. I got the CLEAR TO CLOSE from the underwriter......I am scheduled to close at 4pm on August 23rd.

She told me there is NOTHING that can go wrong now. Nothing.

Fantastic news, JMan! We are so happy for you!!

[Jman30]

Honest to God, I am driving my wife nuts. I haven't slept in two nights. I am such a type A personality....I toss and turn thinking of all the things that can go wrong...even though I know it all set.

Want to hear something sick?? I am actually worried about NOT being in the Chapter 13. It is scary to think I am on my own again...not under the protection of the court anymore. I know that sounds weird.....but there is some sense of security being in a Chapter 13. You know you are free from the hassle of debt collectors, you know your debt is being paid, etc.
Is that stupid or what??