The Magic Kingdom Part The Final

Some thoughts on buying the house.  The house was a short sale.  The bank could have foreclosed at any point during our short sale.  For a short sale, there has to be some special qualifying circumstances.  You can’t just elect to short sale your upsidedown investment properties.  If this had happened, the sellers would have been assured bankruptcy and we would have had to start the process all over again.
The house appraised at just two thousand dollars more than we offered.  This is probably why the bank agreed.  Most short sales are rejected because for some reason people feel they should waste a clogged system’s time by forcing an offer through of fifty percent off asking, which is usally twenty percent off market value (priced to move).  This may translate to the bank not only being asked to accept a fifty percent loss, but also another twenty percent off in a low ball offer.
At any rate.  These people kept a really nice home.  They did a lot of work on it.  I hope you noted the nice real cherry hardword floors in the main area.  The lawn and garden was always well mown and well tended.  The house was always clean when we visited.  Good nice people.  So, we are excited to be home buyers at a stellar point in the market value of the house.  And we did pay current market value.  But, sitting across from the owners of the house who had very clearly intended it to be their families’ home made me feel a little bit like a vulture.
So, you know, the next time somebody runs down the poor bastard in the spot our sellers were in, maybe you should speak up and ask them just who thought it would be a great idea to start a multi-quadrillion dollar industry based with bad mortgages bundled and sold off, rated triple a no less, in secondary and tertiary markets with absolutely no regulation governing the rate at which these investment groups were allowed to leverage themselves.  Sometimes thirty to one.  Why do you think there’s no real liquidity in our banks?  The liquidity was based mostly on speculation on bad mortgages sold off to the next sucker/investor.  It was like when scientists realized there was no actual space-ether liquid.  Only, then no one had used that knowledge to leverage the globe’s financial system.
…more grumble about stuff I don’t really understand.
Any way.  All that said.  We’re freaking excited to blow some cash on this place.  I know, it’s my own bit of cognitive dissonance.  The whole time at the closing where I felt like a vulture, the other side of my brain was singing "America, *#@& Yeah!" to the tune of The Battle Hymn of The Republic. 
And the baby was a hit at closing.  Pictured are our mortgage person holding the baby, her son to the left and to the right the back of our realtor’s head.  Which I feel bad about.  Because she did a ton of hard work to make this happen.  Danielle may have threatened to meet failure with the academic ruining of her son.  On the other hand, she totally dominated the baby’s time.  And the snapshot was roughly as long as our mortgage person was allowed to hold the baby.
Forth coming:  I’ll name names on the parties involved personally and professionally.  These people have done a great job in helping keep this going,  Right now, I can’t really remember what I had for dinner.  So, this will wait until I know what I’m saying and thinking.

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