Several weeks later, it seemed as though the entire bank corporation dropped off the map. A closing process that should have taken 30 days or less, turned into several months of waiting; to include a larger deposit of an additional $20,000. The bank ran her in circles, until the seller told her, through the real estate agent, that the deal was over if she did not find another solution. Fortunately, the seller’s real estate agent referred her to another lender, who was able to help her to obtain another loan (although at higher interest) much more quickly. It turned out the first lender was a scammer. In another case, Jason and Erica planned to upgrade to a new home. After a long search, they found one — or so they thought. A bright and colorful kitchen, open living and dining areas, three bathrooms, high ceilings, a fireplace and even a covered porch made the home seem perfect. They were especially thrilled that the price was only $235,000, what a steal!! They signed the contract and were in their new home a little more than a month later. Less than six months in their home, the horror story began to unfold. Jason was cleaning one of the bathrooms when he noticed tiny little ants with wings. Following Erica’s advice, he called the exterminator. When the exterminator arrived, he delivered the first bit of bad news — these winged ants were termites. The exterminator went under the house to assess the damage. He found that not only was the floor under the bathroom completely infested, but also the other two bathrooms, and the infestation was spreading to more of the house. The grand total for repair was over $12,000! An unbelievable amount of money to unexpectedly invest in a home you have
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