HELP!!! 3 days till closing!!!!!!

[Anonymous]

Too make a long story short, signed a contract on april 30th, have been trying to push threw the crowd of buyers trying to beat tax credit deadline. I am finally set to close on friday and one of the final conditions before closing is to provide 30 day bank statement. Now my dilemma is i had to explain a small negative balance on a previous statement, and when i give this last statement i have 2 nsf but i made a deposit a couple days later. WILL THIS STOP ME FROM CLOSING ON FRIDAY?? Any help is greatly appreciated.

[trdmlc]

Do you know if they will accept a Verification of Deposit in leiu of a bank statement?  That is, if you haven't already provided them with the statement.

[ShanetheMortgageMan]

You'd just need to write the letter of explanation, if it's an isolated event then you should be OK.  If there are a history of NSF's then it could spell trouble.

[Anonymous]

thanks for your suggestion trdmlc and shane, i did mention vod to my lo and stated she couldnt order that it would come from another dept. and wuold take another week. Shane- would it hurt more than help if the explanation is kinda complex and really due to the stress of trying to obtain the loan, meeting conditions, on the phone all day, lo calling, agent calling, juggling schedule of 3 busy teenage boys and also maintaining regular everyday responsibility. This is truly the most stressed i have ever been. PLEASE give me any suggestions as to what would help explain the nsf's. So grateful for any help.

[Anonymous]

Hi all, just wanted to let you guys know im not new to the board, i found this forum over a year ago, cleaned my computer and all my login info was erased so i had to create a new account. my old login was truck_it. Once again thanks for any advice.

[ShanetheMortgageMan]

If the bank statements have already been reviewed by underwriting then a VOD won't help, if they haven't been reviewed then it may be possible to use the VOD.  Most lenders still want to review bank statements though to make sure that funds aren't being deposited in there from unacceptable sources though.  The explanation for the NSF's should be truth, a few sentences usually is enough.