Four Islands In Ten Years (part 1)
June 17th, 2007
It just dawned on me that Terrie and I started our foray into island living ten years ago, which really doesn’t seem like that much time when you consider we are heading to our fourth island very soon. I had intended to include some basic geographical information about all of the locations we have called home for the past ten years in one post, but because of the space that the photos take up this anecdote will be broken into three or four parts starting with Papua New Guinea, then American Samoa, the BVI, and finally Culebra.
Closing Date - Palmetto Culebra Purchase
June 15th, 2007
Terrie and I have been informed that the closing will take place next Wednesday June 20 at 11:00am in San Juan, PR.
Settlement Agreement
June 14th, 2007
After many months of trials and tribulations, false approvals, bad appraisals, and a lack of (what we deem) discernable progress, Terrie and I are so near to closing on the property in Culebra that it’s driving us mad. We received the settlement statement from the mortgage broker on Wednesday but some of the charges are a little high. Right now, at this very moment we are going back and forth with them via email trying to get the origination fee reduced, so we will see how it goes.
Palmetto Guesthouse - Purchase Approved
June 11th, 2007
Quite possibly one of the best emails I have ever received:
Major Frustration
June 9th, 2007
We now have to wait until Monday to see if we will be approved…
Frustration
June 8th, 2007
Of course, we never got an answer yesterday! So we continue to wait and have just received this email from the loan officer:
Mortgage Decision Today
June 7th, 2007
Today is the day! Our loan officer at Metro Island Mortgage said yesterday that the loan committee has all of our information and we should have a decision by the end of the day today. Because we have been working on this since September 2006 we really just want an answer so we can either get ready to move to Culebra or else come up with a plan b.
Loan Committee
June 5th, 2007
Greetings, we received this note from the mortgage broker yesterday morning:
“Good morning.
The appraisal has been reviewed “as is”. This means there are no repairs in the subject property that need to be done.
In the other hands, the case will be submitted to the credit committee today. Probably I will have an answer by Thursday. I will let you know.
Thank you,
Sara”