Just following on from the previous post, Mary & I have just been through the process of acquiring private finance in the form of a short term caveat loan, so that we can pay for the motorhome in time for us to collect it.
Translation: The lender places caveats (like a second mortgage) on some of our existing properties (those that have enough equity to make it worthwhile), so that their investment is protected, & supply us with cash funds in just 24 hours after the paperwork is completed. Since we are re-financing those properties over the next several weeks anyway, as those properties are processed, the caveats will be removed.
However, it has been a very frustrating time. These processes never run smoothly. Delays, mis-communications, it just goes on & on. Here it is, Good Friday, & we still do not have a firm offer, let alone an approval. I’m sure it will come in, just in time, but that does nothing for my stress levels.
