FS 06 Z06 MINT Coilovers, Extras only $35k
06-23-2010, 03:23 PM
#41
Drifting
Still waiting on the broker. GMAC was the mortgage company they were working with and the way the underwriter insisted on structuring it with a full 5% and 12 months of reserves PRE CLOSE (Which no one gets) made it not work.
They have a lender now who looks to want 25% down total vs 20% but only wants 6 mos reserves which i can do if the car goes so i still sit here without sleep, having lose 8 pounds in a week cause i cant eat waiting and at this point hoping i hear to sell my car. I will miss it but i cannot pass up this waterfront opportunity. Wife has OK'ed a F 360 Spider after all the dust settles post close this winter when prices are down.
Pull for me here guys, I could have sold it to carmax for 36k as they appraised it (What a profit center, they are selling the same exact car with same miles for $44k) but i am keeping it for a forum member as i believe good things happen to those who do good things for others
They have a lender now who looks to want 25% down total vs 20% but only wants 6 mos reserves which i can do if the car goes so i still sit here without sleep, having lose 8 pounds in a week cause i cant eat waiting and at this point hoping i hear to sell my car. I will miss it but i cannot pass up this waterfront opportunity. Wife has OK'ed a F 360 Spider after all the dust settles post close this winter when prices are down.
Pull for me here guys, I could have sold it to carmax for 36k as they appraised it (What a profit center, they are selling the same exact car with same miles for $44k) but i am keeping it for a forum member as i believe good things happen to those who do good things for others
Please dont get me wrong, but why you are loosing sleep about moving out of what looks to be a beautiful home, into an even more beautiful home on Lake Norman, which is a awesome place (I used to live off of exit 33). Step back a little and put things into perspective!
06-23-2010, 04:15 PM
#42
I am sorry to hear things have not been resolved yet. Thanks for the honesty and loyalty.
Please dont get me wrong, but why you are loosing sleep about moving out of what looks to be a beautiful home, into an even more beautiful home on Lake Norman, which is a awesome place (I used to live off of exit 33). Step back a little and put things into perspective!
Please dont get me wrong, but why you are loosing sleep about moving out of what looks to be a beautiful home, into an even more beautiful home on Lake Norman, which is a awesome place (I used to live off of exit 33). Step back a little and put things into perspective!
06-23-2010, 04:26 PM
#43
Safety Car
Thread Starter
I am sorry to hear things have not been resolved yet. Thanks for the honesty and loyalty.
Please dont get me wrong, but why you are loosing sleep about moving out of what looks to be a beautiful home, into an even more beautiful home on Lake Norman, which is a awesome place (I used to live off of exit 33). Step back a little and put things into perspective!
Please dont get me wrong, but why you are loosing sleep about moving out of what looks to be a beautiful home, into an even more beautiful home on Lake Norman, which is a awesome place (I used to live off of exit 33). Step back a little and put things into perspective!
It goes to underwriting at a new investor tomorrow and i have been told they feel very confident it will go thru and if it does i 100% have to sell the car. I will know in a few days.
Wish me luck
as to mo money mo problems i dont see that as an issue but mo money does not mean mo happiness or less problems, just different ones
If the car goes my wife and i have a deal that when i get my bonus in the winter I will replace the car. Depending on size it will either be an identical Z06 (It will be hard to find one this nice that is customized perfect) or a 360 Ferrari. I am only able to drive the vette maybe 7 days a month 30 miles a day with my travel and work / family commitments so we will see.
I will keep you all updated, thanks for the support
06-23-2010, 04:37 PM
#44
Drifting
Still waiting on the broker. GMAC was the mortgage company they were working with and the way the underwriter insisted on structuring it with a full 5% and 12 months of reserves PRE CLOSE (Which no one gets) made it not work.
They have a lender now who looks to want 25% down total vs 20% but only wants 6 mos reserves which i can do if the car goes so i still sit here without sleep, having lose 8 pounds in a week cause i cant eat waiting and at this point hoping i hear to sell my car. I will miss it but i cannot pass up this waterfront opportunity. Wife has OK'ed a F 360 Spider after all the dust settles post close this winter when prices are down.
Pull for me here guys, I could have sold it to carmax for 36k as they appraised it (What a profit center, they are selling the same exact car with same miles for $44k) but i am keeping it for a forum member as i believe good things happen to those who do good things for others
They have a lender now who looks to want 25% down total vs 20% but only wants 6 mos reserves which i can do if the car goes so i still sit here without sleep, having lose 8 pounds in a week cause i cant eat waiting and at this point hoping i hear to sell my car. I will miss it but i cannot pass up this waterfront opportunity. Wife has OK'ed a F 360 Spider after all the dust settles post close this winter when prices are down.
Pull for me here guys, I could have sold it to carmax for 36k as they appraised it (What a profit center, they are selling the same exact car with same miles for $44k) but i am keeping it for a forum member as i believe good things happen to those who do good things for others
I have been in the mortgage banking business for a long time. Sent you a PM with my phone number if you want to run some questions by me(not a sales pitch... just willing to help).
If the mortgage is a straight forward jumbo loan like it sounds the underwriters are asking for way too much. And at the bank I work for you wouldn't have to sell your Z06 as you could actually finance it to get the cash needed(although the debt created by the finance of the auto would be added to the debt ratios and could effect qualifying). Also only need 20% down for primary residence. Jumbo loans can be tricky as they are kept on the banks books(they don't go to fannie or freddie). Each bank can and does makes its own rules for jumbos.
Good Luck.
Tom
06-23-2010, 04:50 PM
#45
Drifting
LOL i hear you - it has always been our dream to get a waterfront home and the dream is within grasp now. Boating is my passion. While we live in a waterfront community 3 blocks from the lake and our boat is on a lift down the road there is somehting nice about getting home from work, walking out the pier and jumping in. Add to that some serious problems with my neighbors that have poisioned our enjoyment of our home (Dont get me started they are wretched and i am pretty laid back, they latest is basketball camp until 1-2am nightly in their driveway 25 ft from my bedroom windows. Combine the two and we are ready to go
It goes to underwriting at a new investor tomorrow and i have been told they feel very confident it will go thru and if it does i 100% have to sell the car. I will know in a few days.
Wish me luck
as to mo money mo problems i dont see that as an issue but mo money does not mean mo happiness or less problems, just different ones
If the car goes my wife and i have a deal that when i get my bonus in the winter I will replace the car. Depending on size it will either be an identical Z06 (It will be hard to find one this nice that is customized perfect) or a 360 Ferrari. I am only able to drive the vette maybe 7 days a month 30 miles a day with my travel and work / family commitments so we will see.
I will keep you all updated, thanks for the support
It goes to underwriting at a new investor tomorrow and i have been told they feel very confident it will go thru and if it does i 100% have to sell the car. I will know in a few days.
Wish me luck
as to mo money mo problems i dont see that as an issue but mo money does not mean mo happiness or less problems, just different ones
If the car goes my wife and i have a deal that when i get my bonus in the winter I will replace the car. Depending on size it will either be an identical Z06 (It will be hard to find one this nice that is customized perfect) or a 360 Ferrari. I am only able to drive the vette maybe 7 days a month 30 miles a day with my travel and work / family commitments so we will see.
I will keep you all updated, thanks for the support
Best of luck
