Here goes the situation. I keep most of my money in my savings account but when I go to pay bills I transfer enough money to checking to cover the bills as I pay them. Problem is that last week I paid daycare a check but that day which was a thursday and then on friday, I worked 12 hours 7a-730p and completely forgot to transfer the funds to cover the check which of course cleared friday and I realized friday night at 8 when I got home and checked my bank account. The next day as soon as the bank opened I transferred the funds. This has never happened before, I have never had an overdraft in the 3 years I've had the account and I usually transfer the money before I even pay anyone. So the check was paid out to the daycare and wasn't returned (thank goodness) but I got hit with an overdraft fee. I am trying to buy a house somewhere between december and april and I need advice on how overdraft can affect the purchase during underwriting. I know they usually only ask for 2-3 months of bank statements, but I believe on the bank statements at the bottom it has a year to date column for overdraft charges so they would be able to see anyway that sometime I did have and because I have a past history of bad credit I was trying to keep my account statement good just in case I got someone who asked for 6 months worth. Please any advice is appreciated from all.
Starting Score: myfico.comEQ 570 TU 614 EX (fako/experian.com) 565 5/24/12
Thank you!
Thank you!