
It is no longer a question of "if" we will lose our house, it's just a matter of "when".
We went to the Interlink Bypass meeting last night, and that's what we were told. We talked to the "Right of Way" guy, who was extremely helpful. He's been doing what he does for 40 years now, so he knew his stuff.
Sometime in the year 2010, (should be the beginning of 2010, but the way things are going it could be more like 2020) an appraiser will come and appraise our house and land.
The guy said something like this...if our house is worth $1, they will find comparable houses in the area, if the only comparable houses are worth say $1.25, $1.50, and $1.75, we will receive $1.50. Not the $1 our house is really worth. Likewise, if our house is appraised for $1, and the only comparables are worth less, we will still receive our $1. Does that make sense? It made sense to me...there is also compensation for things that we normally wouldn't be compensated for, had we sold our house ourselves. We'll be reimbursed for moving costs, closing fees, all lawyer, and document fees. Which is pretty cool. Another pretty cool thing, that is a little harder for me to explain is the interest deal. If we get a mortgage, but the interest is a lot higher than our current interest, they work out some sort of deal to compensate for that. Some sort of mathmatical equation to figure out how much we would save if we had our original interest rate, and then we'd receive some sort of a refund. I'm not exactly sure, but it sounded good. We even have an option of accepting their offer, and then turning around and buying our house back for a very small fraction of the cost, and then moving the house. It may work out to be better to just buy a new house though. That's something we'll have to do a lot of research on.
I've been praying to God for so long to let me keep my house, but now it seems like losing our house may actually be an answer to our prayers! You know, one of the "Thank God for unsanswered prayers..." sort of deal. So for the next year we're going to be pray that we are able receive a high appraisal, as well as secure a mortgage for a new house.
Just wanted to share! And ask for everyone to pray with us!

0 comments:
Post a Comment