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New Contributor
ddivaqt
Posts: 52
Registered: ‎06-09-2007

Tell Me How Can You....

Get pre-approved for a mortgage with a 629 mid score, have no late or outstanding debts for twelve consecutive months. No new tradelines waiting for closing so the FICO score does not decrease - get a good rate lock, closing date and then a denial by underwriter stating that the prior delinquent mortgage payments from a couple years ago are sited? So now I get to move into an apartment with my proceeds of my sale (40 months of reserves). What gives?
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007

Re: Tell Me How Can You....

New Contributor
ddivaqt
Posts: 52
Registered: ‎06-09-2007

Re: Tell Me How Can You....

Thanks Noah, the loan was approved by the Acorn program, similar to NACA, but because they are underwritten by a bank their standards got me. They are going to request a recon, but until then I will continue to look for temporary housing.
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007

Re: Tell Me How Can You....

Particularly if you have a prior mortgage history under Acorn, FHA should be easy for you to get approved. And I believe FHA does refins.

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