Monday, January 18, 2010

Busy days ahead

I have really enjoyed not working much over the Christmas break, this is usually a very slow time in my business. It felt kind of weird after have worked so much and intensely for several months to just all of a sudden come to an abrupt halt like that. I almost feel a bit antsy and uncomfortable not having to work. A good sign a break was indeed needed I think ;-)!

But today I got word from the two major agencies I work with on an ongoing basis, and I got the preliminary word counts for the upcoming weeks, so I can definitely say the break is over... At least I get to ease into it with a smaller assignment today and then it will gear up towards the end of the week. No problem at all; I am more than willing to go back to work. It will be interesting to see if we hear from the seller's bank today, and what the time line will be for the new house. We have already finished all our individual and joint tax returns, both our personal once and the business once, so we are ready for the loan process.

It is very nerve wracking, since you never know what can happen. It could be a no! Banks are not exactly throwing money after people anymore... We were not planning on buying a house this year, so we have plowed a lot of our 2008 income into the businesses, so on paper the income for 2008 was not very high. Unfortunately the bank use an average for 2008 and 2009 for the mortgage application... and since we are not selling our current house, that counts as money going out, since we cannot rent it out until we have moved, of course.

So there are still a few hurdles to get over. But in the event the mortgage is denied, we will just have to wait a few more months, which should be enough time to change our situation even more in favor of a yes. We have done what we can. I have paid off a huge amount on my credit cards, increased my credit score exponentially... We have a good chunk for down payment, we both increased our income significantly for 2009... Hopefully it will all be enough and we won't have a problem.

But like I said, if it is denied, we are still planning on getting a new house this year, it will just have to be postponed a few months, so no big deal...

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