To Close or Not to Close?



I woke up in the morning of the hottest day in July and burst into tears.  My husband, bless his heart, is sometimes oblivious.  He looked at Linda, the guardian angel-sister who came to town to help with the move and said “What’s wrong with her?!”  My sister answered emphatically, “She’s exhausted!”   I was, but we survived the day and the move.  My uncle in Brainerd had a moving company, they brought their big truck and lots of muscle.  He and my aunt saved the day.

One of the last pictures of Mom and Dad in their house. Do you see Lewy?

Closing Delayed

The house was supposed to close the next Monday.  Gary called, “Nance, I have some bad news.  The buyer’s loan didn’t go through.  The bank initially approved it, but now they say she hasn’t been in her job long enough.  We’re not closing Monday.”

Oh great, I thought.  Now what?

It didn’t close Monday, or the Monday after.  I had been counting on the house money to pay their rent in the Villa.  They were $1000 short, even after my husband and I lent moneythem the only $500 we had in savings.

What to do?  I made a few calls, and landed on the county VA office.   Did they have anything for veterans in a crisis?  The very nice gentleman on the phone said he would check into it and get back to me.

Disabled American Veterans

Long story short, the Disabled American Veterans (DAV) lent my parents $1000, just what we needed, until the house closed.  The DAV representative drove to their new home, and handed my Dad the check.

The house finally closed three weeks later.  My parent’s had already signed off on the paperwork; I drove to the closing office on another very hot July day.

Guess what song came on the radio?

Praise You in This Storm

Mortgage Check

I thought things would calm down; little did I know a new nightmare was about to pounce on us.

I talked to our financial advisor, he advised we put the mortgage money into a bank with part of it in short-term money market accounts.  Together the three of us, Mom, Dad and me went on an outing to the local bank.  The check would take some time to clear since it was from out-of-state.  We agreed to divide the funds up into various accounts.  $10,000 was put into one of the bank’s money market accounts.

$10,000 Check

The bank advised how to divvy up the money.   We deposited the entire mortgage check into my parents checking account to wait for it to clear.

I knew I would have to be super-careful and only spend out of the checking account what was available before the mortgate check.

The bank made a mistake; they immediately tried to pull the $10,000 out of my parent’s account before the mortgage check cleared to deposit into one of their money market accounts.    The $10,000 check bounced to high heaven!

In addition, each of the nine checks I had written in the past week bounced.

Bouncing checks everywhere.

I went to the bank, they gave me a letter and said they would cover all the costs.  I was at my wit’s end( – the closing had been delayed, we just moved my parents, and it was a very hot July.  (I am a Scandanavian living in Minnesota, I do not do well with the heat.)

I had to call each of the nine entities to explain the situation, apolgize, say it was the bank’s fault, give them the letter from the bank.  I had to watch the account to make certain the bank covered the bouncec checks and fees, and look for any other “bouncers”.   I literally spent every lunch period at work for the next week on the phone explaining to people why the checks bounced.

To Tell or Not to Tell?

Part of the way into this debacle, I stopped in the bank to check on the status of the account.  The Branch Manager spoke with me.  She begged me to not tell anyone else about this situation.   I suppose she knew someone could get in big trouble.

I didn’t tell anyone higher up in the bank.  I suppose I had bigger problems at that point, than getting the banker in trouble.

Seriously, it’s a surprise I didn’t lose my mind right then and there.

Fortunately, all of my sisters were available to get my parents settled in their new home.  And the checking account eventually went back to even keel.



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