Denials are stupid! :-(

[cem13]

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@Anonymous wrote:
 Anyone ever recon with NASA?

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I had a NASA instant denial in 05/2015 from BK7 in 2011.  I wrote them a letter explaining my circulstances for the BK7.  Mine were 1) Lost high paying job ($100K) in the automotive industry in 2009.  2) The job loss caused financial stress which caused a divorce 3) Stress caused some short-term medical issues.   In addition my truck got re-Po'ed, my dog ran away and worst thing of all is that my electric got shut off and my beer got warm.  I mean come on people, have a heart and help a brother out.

I was approved within 30 minutes of sending the recon email.  I only received $5K and they told me no CLIs for at least a year.  They wanted our "relationship" to grow like wild flowers in the springtime (sounds like my Ex-wife)  Then they would consider a CLI.

[myjourney]

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@cem13 wrote:

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@Anonymous wrote:
 Anyone ever recon with NASA?

---

I had a NASA instant denial in 05/2015 from BK7 in 2011.  I wrote them a letter explaining my circulstances for the BK7.  Mine were 1) Lost high paying job ($100K) in the automotive industry in 2009.  2) The job loss caused financial stress which caused a divorce 3) Stress caused some short-term medical issues.   In addition my truck got re-Po'ed, my dog ran away and worst thing of all is that my electric got shut off and my beer got warm.  I mean come on people, have a heart and help a brother out.

I was approved within 30 minutes of sending the recon email.  I only received $5K and they told me no CLIs for at least a year.  They wanted our "relationship" to grow like wild flowers in the springtime (sounds like my Ex-wife)  Then they would consider a CLI.

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Heck after a letter like that I would have approved you too.....for GP reasons 

Lol cem ha ha ha 

[pizza1]

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@myjourney wrote:

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@cem13 wrote:

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@Anonymous wrote:
 Anyone ever recon with NASA?

---

I had a NASA instant denial in 05/2015 from BK7 in 2011.  I wrote them a letter explaining my circulstances for the BK7.  Mine were 1) Lost high paying job ($100K) in the automotive industry in 2009.  2) The job loss caused financial stress which caused a divorce 3) Stress caused some short-term medical issues.   In addition my truck got re-Po'ed, my dog ran away and worst thing of all is that my electric got shut off and my beer got warm.  I mean come on people, have a heart and help a brother out.

I was approved within 30 minutes of sending the recon email.  I only received $5K and they told me no CLIs for at least a year.  They wanted our "relationship" to grow like wild flowers in the springtime (sounds like my Ex-wife)  Then they would consider a CLI.

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Heck after a letter like that I would have approved you too.....for GP reasons 

Lol cem ha ha ha 

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LOL...Sometimes recons work, and this guy was 4 yrs post too...."beer got warm", hahahahah

[Anonymous]

Cem13 do you happen to know that email address? :-)

[Anonymous]

BTW, I never compared myself with anyone else. What I said was my fellow FICOers told me it wasn't a good idea to app with Discover at this time, and I did any way. Shoulda listened! Also the reason I'm not applying for a mortage first is because I'm on the USDA waiting list, and already applied. I have to wait 1.5 years to get my home. That's why I'm applying now, instead of in 6 more months to a year. 😉

[cem13]

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@Anonymous wrote:
Cem13 do you happen to know that email address? :-)

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I dont have it but if you call the CS number; they will give it to you.

[cem13]

LOL...Sometimes recons work, and this guy was 4 yrs post too...."beer got warm", hahahahah

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Everything in my email was true.  My beer did get warm.  You talk about a string of bad luck.  Everything in my case was out of my control; even the warm beer and the dog running away.

IMO they are interested in knowing if the reasons that caused the BK7 were in your control or not.   IMO they do not want to reward poor behavior; ie lavish spending etc.   

[Imperfectfuture]

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@Anonymous wrote:
Just garden and dream of your new home!

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So much this.  Your scores will be over 700 by then, even with BK.  And Fico does not care what kind of cards you have.

[Imperfectfuture]

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@pizza1 wrote:

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@myjourney wrote:

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@cem13 wrote:

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@Anonymous wrote:
 Anyone ever recon with NASA?

---

I had a NASA instant denial in 05/2015 from BK7 in 2011.  I wrote them a letter explaining my circulstances for the BK7.  Mine were 1) Lost high paying job ($100K) in the automotive industry in 2009.  2) The job loss caused financial stress which caused a divorce 3) Stress caused some short-term medical issues.   In addition my truck got re-Po'ed, my dog ran away and worst thing of all is that my electric got shut off and my beer got warm.  I mean come on people, have a heart and help a brother out.

I was approved within 30 minutes of sending the recon email.  I only received $5K and they told me no CLIs for at least a year.  They wanted our "relationship" to grow like wild flowers in the springtime (sounds like my Ex-wife)  Then they would consider a CLI.

---

Heck after a letter like that I would have approved you too.....for GP reasons 

Lol cem ha ha ha 

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LOL...Sometimes recons work, and this guy was 4 yrs post too...."beer got warm", hahahahah

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Love this.  Best recon all time.

[bldmt]

This has been  avery interesting read with tons of good advice. Pizza, nice job laying everything out from your experience.

OP, please take everything as constructive. Not sure how long your rebuild journey has been but, we have all to a certain degree have been there. The key is patience, and taking a step back and looking at what you have accomplished to date. More importantly, what is at the end of the rainbow... your own home. I personally would hit the brakes right now and work towards your dream.

I do have a couple of questions for you.

Why the long wait for the USDA mortgage (I'm not familiar with them). What are the benefits?

Are you, or your partner a veteran. If so, there are some very attractive VA loans available today that offer decent mortgage rates, and low up front closing costs.

Here is an example from Penfed for a 30 year Fixed VA loan $0% down. I just threw a home price of $250K into their calculation as I don't know where you are. It's about the norm for a small home where I am.

LOAN TYPE 30-Year
VA Fixed

EST. MONTHLY PAYMENT $1,501.78

APR 3.812%

You could join Penfed with small deposit Savings, and Checking accounts (NO CREDIT CARDS) to build a relationship and they would work with you.

Best of Luck