I wish I could blog every conversation I have had with Southern Community Bank Mortgage Department and IDA concerning Alexandra's mortgage. What an abomination. Something that should be very simple has turned into a mountain of confusion and intrigue. IDA says I'm typing up the conditions and sending it right over, that was Friday afternoon never to appear on Tim's desk in the mortgage department for him to copy to Alexandra, the real estate agents, and me. His boss John Manning was not in on Friday and seems to be away this week.
I have spoken to the Scott Bauer, Chairman and CEO. He actually gets a star for returning my call. Do you know their website says "Small Enough to Care." Interesting statement, for I would like for him to give me the opportunity to say Southern Community Bank cares. Remember Alexandra should have closed on her house on Tuesday of this week and we are now Sunday and no one wants to take responsible or give me any options. Did I mention that Alexandra was homeless and that is putting exceptional pressure on all of us.
No, I take that back Tim called me on Saturday and he said that he would give me two options on Monday, after pressing him that something has to be done. If we were not to go with the IDA and State funds but either take an inhouse mortgage or a conventional mortage verses a FDA mortgage. Does anyone know the (+) or (-) going either way. My only concern is to protect Alexandra's position in light of the goverment funding that she was both promised and intitled to. 10K in a soft loan coming from the State Capital and 4K from an IDA program that she successfully completed last year.
I asked Tim to get this in writing, that Alexandra would be intitled to these funds if we closed without them. Banks are in the lending business I have been told. There are in house loans and loans that the Bank sells to third parties. I guess they just get a percentage upfront for their effort but do not have to carry the risk.
You know I spoke to Alexandra yesterday about social justice. She fights for social justice for others. Can you imagine if this happened to a poor working mother with four children, homeless waiting to hear from the bank without the advocates and resources that Alexandra has. I can not even imagine it.
The story goes on. I will ask Tim for all the e-mails to IDA, the county, the city, etc. and post them for your accessment of the situation. Please pray that we can close this week and Alexandra can have a home.