Loan agencies aren't too bright.

Saying for the day: There is a logical way and then there is the way we do it.

Lending institutions are weird.

I just went through the agonizing process of getting pre approval on a loan to buy the new house.

I wanted a 20 year fixed mortgage.
Now the institution with which I was working had no problem with giving me a loan for $170,000 .
I have a great credit rating and enough income to cover it.

But I wanted to add my daughter to the loan as she will be living in one half of the duplex.
If I added her the amount of money available to pay off the loan more than doubled since she makes more than I do ( $30,000 a year more).

One would think that they would jump at the chance to increase the likelihood that there would be money to make the payments.
But if I added my daughter they wouldn’t give me the loan.

Why? Because in May she was late on a mortgage payment on her present house and she doesn’t have a great credit rating.
She didn’t miss a payment.
She has never missed a payment.
She was just late.

So I said to the woman that I was working with.
This makes no sense at all.
I’m still on the loan and you would give it to me without her.
Surely all her presence does is increase the chance it will be paid because there is more money.

Now the woman agreed with me but she said the approval comes by computer and the computer automatically rejects anyone that has been late on a payment.
She couldn’t override the computer.

Somebody needs to work with those people.

Somebody really needs to work with them.

@@@@
The news from Pigeon Falls – the little town in my backyard – People are beginning to wonder what happened to the real White Rabbit which hasn’t been seen since the dragon showed up. In addition nobody other than Robert’s tourists have seen that very elusive dragon. I think the town misses them.
They have a section of Bof’s restaurant sectioned off for the rehearsal dinner tonight. It will be a small affair with just the parents and the wedding party attending. Even so it is more than most rehearsal dinners around here which are usually hosted in the home of an aunt or uncle. Of course both families have money. You can get rich as a potato farmer and the gas station business isn’t bad either.
Lori and Pete showed up on the morning milk train. Pete took off with Eino soon after they arrived. They have gone fishing over to Cripple Creek. Maybe they will see the white rabbit swimming along. That’s where Tommy saw it.
Speaking of Tommy, his father decided to let him out today. He has promised to stay out of trouble. Soon after he was seen down town with his big red wagon. I think his dad is counting the days until school starts.
Nancy said the perspective bride stopped in for tea and she is really nervous. She is afraid that Jonathan’s friends will cause some kind of trouble. She is also worn out from all the preparations. She has this nightmare where his friends blow up the car, the White Rabbit shows up with four inch fangs, and a dragon burns the train on her wedding dress. Nancy told her to relax and gave her some very special English Tea that calms the nerves.
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The link for today is King of Common Sense- Please remember to put the words DR. John in your comment to get JCPOINTS ( every point you get is a point you got) Check your point total HERE.
Update on the house (for Esther an and Sue) Betty talked to Pennie last night. Our offer on the house was rejected and they made a counter offer which we accepted. We now have until October to get one house or the other sold. Was able to get loan with Pennie on it by locking into a seven year fixed as the nice person I worked with had the authority over that instead of the computer.
Spent the morning working in the study shredding papers. I felt like a President. Betty was sorting and deciding what to shred. Pennie faxed us some papers for our signature and we sent her a check for the earnest money. In the afternoon we went back to the basement and started on a differnt room . Little by little we got it cleaned up. We stopped just long enough to run the train for a visitor who had stopped to look at it. well I need a breathing treatment.
GBYA