what does "better than even chance" mean? that's what the loan officer told Clive but I have no clue if that is ok news, good news, great news, or who knows news lol

That loosely means you'll get it I believe. Even chances are 50/50. Better than even means anything from 51/40 to 99/1. Sounds like the guy's suggesting you'll probably get the loan.

thanks Dr Pepperhill - I was hoping that's what it means - Clive said she was going to expedite things to we would know an answer soon so we know if we have the house or we need to get a 3 bedroom apartment rather than the 2 bedroom he's in right now.

Great! Good luck. And I'm assuming you're going from a 1 bath to a two bath as well, which makes the living easy. Who gets the third bedroom for their office?

if we have to get a 3 bedroom apartment - the third bedroom is a guest bedroom

the house if we get it will be 4 bedrooms and I think 2 and a half baths and I think there's a room that's a den which I'm not quite sure if that's where our computers are going to go or not.

Again, best of luck on the loan. Credit's still fairly easy, e.g. banks are still eager to loan money, so hopefully you'll sail in (after weeks of nail biting).

thanks. like I told Clive - I don't care where we live (though I'd love the house) just as long as we are together - that's what is important.

Until the new Fed chariman gets Greenspan's wild mortgage lending freedom under control, mortgage lending is still very freely available.

It shouldn't be much of an issue.

Amen Liz. We're going in the opposite direction here. 17 year old son is college bound next fall, so the 4 bedroom 3 bath we currently rent we can trade down to a 3 bedroom 2 bath, and save mucho dinero. When you get to be on my end of the life cylce, less starts becoming more.

Blister, unless I'm mistaken you're hankering for double-digit mortgage rates; shame on you.

Blister,

we've been jumping through hoops getting various information that they've needed for weeks now. To put it in perspective Clive was hoping to close on the 15th - it's the 18th now and we still don't have an answer on whether we have the loan or not. I'm assuming it probably will be their tuesday - our monday before we'll find out anything. I'm assuming the bank will be closed for presidents day blahh

I tend to be a bit of a contrarian.

Dr Pep, whatever happens in the next 2 years, in terms of mortgage rates, is a direct result of the recapitization that has run rampant in the past several years.

I don't think we'll see double digit rates, but certainly they will go up, and mortgage losses will pile up

Liz, I hope everything get's resolved quickly. Good luck

My mortgage costs have incresed 10% twice (20% total) over the past year or so. I can take a few more hits I guess (like I have a choice), but if these fun and games continue it could really get painful.

If the rates do go up, those with interest only loans are going to be left sucking wind.

Mine are regular ARMs, but there's lots of fine stogies going to the S&L instead of to my humis. Lots.