Never count your chickens before they've hatched. A noteworthy proverb.
Well, our second attempt at closing a loan with Chase failed. Despite the new, higher appraisal, Chase refused to accept it because it was so much higher than the old. And instead of using the midpoint of the two appraisals (which would seem reasonable, no?), they are just completely disregarding the new one.
So that loan is officially dead. Goodbye extra equity - we will miss you.
We are continuing to work with Bank of America. Hopefully this loan will defy all expectations and actually close. We'll see.
In the meantime, there's been a holdup with our building permit (of course!). Our builder was able to get a limited permit to pour the foundation only, but the rest of the build will have to wait pending an "official" approval. So now the concrete pour is slated to start next Monday, assuming the weather holds.
What happens after that, IF it happens, is anyone's guess.
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