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Established Contributor
thankfulheart
Posts: 619
Registered: ‎09-26-2011

Re: (Hopefully) My Journey to Homeownership

Today's update:

After 3 credit supplements, only one of which needed a conference call, my file is finally ready to go to "processing".  We are still waiting on a legal document from the marital home that is paid off, but LO says we are still OK to move forward without it and it will probably just be a condition.

 

I have emailed the sales agent twice this week to find out about when I can have my builder meeting, but no reply.  I'm trying to be patient, but we need to break ground by the 15th to stay on track.  If I don't hear back by Monday, I'll need to escalate to his boss.  I'm learning patience through the credit rebuilding/mortgage/homebuilding process, but I am also very much about adhering to promised timelines, darnit.

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Regular Contributor
luckelle
Posts: 168
Registered: ‎12-05-2007

Re: (Hopefully) My Journey to Homeownership

wow. had no real idea home buying process was this extensive. man have to get to work not only on the credit score, but paperwork also. Thanks for your story.

Starting Score: 5/2012 TU 595, EQ 565, EX fako 547
Current Score:as of 9/2012, TU 626,Walmart 612, EQ 600, EX fako 623
Goal Score: 640 by dec 2013
BofA Au 13000, Amazon 600, Capt1 300, Walmart 150
When all else fails pay it!


Established Contributor
thankfulheart
Posts: 619
Registered: ‎09-26-2011

Re: (Hopefully) My Journey to Homeownership

Little ticked. Got an email from the sales agent who is now saying it looks more like August for them to start the house.  That is NOT what I've been told for the last 4 months. :smileymad: I have a VERY limited timeframe in which to take my vacation to move and vacate my rental house, so I'm quite frustrated at this new development. I have all of the "promises" in writing via email, but I really don't know what I can do at this point.  The email today was a bit too snarky for my taste, so I'm trying to breathe deeply and let him meet with his boss this week to figure it out. 

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Established Contributor
aussiesareforever
Posts: 740
Registered: ‎10-04-2010

Re: (Hopefully) My Journey to Homeownership

Praying things work out Thankful. I'm thinking of you and your family!

BK in 2008, after making very stupid financial decisions.

Barclay's Apple Financing Card ($6400) --- Capital One Quicksilver ($10,000)---GEMB CareCredit ($5700) --- AUFCU ($10000)--- Walmart ($5000)

FICO Scores: TU 735 EQ 709 EX 740 (Feb 2013, all pulled by lender)

Established Contributor
JusdoNit
Posts: 921
Registered: ‎12-10-2011

Re: (Hopefully) My Journey to Homeownership

Hang in there.


Starting Score: 722
Current Score: Now 687 what the hockey sticks...from a 784 (Aug 12 EX 751 EQ Fico)
Goal Score: 800

If your outGo is more than your INcome than your UpKeep will become your downFALL.

Take the FICO Fitness Challenge


Established Contributor
thankfulheart
Posts: 619
Registered: ‎09-26-2011

Re: (Hopefully) My Journey to Homeownership

Soooo...it still looks like an August start/mid-October close unless the builder can bump another house down the list.  VERY upsetting/frustrating as my timeline is so tight and they've known that from the start.  The current schedule also has the start smack dab in the middle of family visiting for a week and the close smack dab in the middle of out of town Guests visiting for a week. 

 

The processor supposedly worked on my loan today, but I'm guessing I won't hear anything on that for a few weeks anyway.  Still waiting for the dust to settle on the student loans and credit reporting.

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Established Contributor
thankfulheart
Posts: 619
Registered: ‎09-26-2011

Re: (Hopefully) My Journey to Homeownership

The journey continues with MORE paperwork.  The loan processor emailed today asking for:

 

4 more weeks of paystubs

June bank statement

My daughter's savings account statement for the month she did a transfer for me to purchase items with her savings to secure credit card protections

Updated/signed LOX for the deposits greater than $100.

 

One step closer (I hope).

 

Builder still says 1st of August and I should be having a builder's meeting here in the next few weeks.  Lots of deep breathing going on at my house right now.

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Established Contributor
thankfulheart
Posts: 619
Registered: ‎09-26-2011

Re: (Hopefully) My Journey to Homeownership


luckelle wrote:

wow. had no real idea home buying process was this extensive. man have to get to work not only on the credit score, but paperwork also. Thanks for your story.


I've been telling everyone I know that homebuying is longer than human gestation and one should allow 12 months to prepare for it by polishing credit, making sure things are paid on time/paid off, watching DTI, not apping for new credit, watching bank accounts, taxes, etc.  Pristine record-keeping is a must!

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Established Contributor
thankfulheart
Posts: 619
Registered: ‎09-26-2011

Re: (Hopefully) My Journey to Homeownership

:smileysad: Sales rep emailed today to tell me my start date was moved back AGAIN, now to mid-August, a full month after the original.  I've tried to make it clear that I can't take any time off work after mid-October, but that doesn't seem to matter. Looks like I'll be painting and moving while working 50-60 hours a week (on 3rd shift). Also looks like I'll have to pay an extra month of rent to be able to do it over several weeks rather than in a single swoop like I'd hoped.  AND, looks like we won't be moved in time for Halloween, which my kids had already planned this big neighborhood bash (they are going to be the only teens in a neighborhood of littler kids, so were wanting to make a fun, not-so-scary, Halloween for the neighbors). I'm ticked. and sad.

 

What upsets me the most is that they have all been telling me and the LO that we were "on track" for a mid-July start and when I made my last payment in June, he told me I was "next on the list" and we were still "good to go".  This is not boding well for future referrals from me; I guess they haven't figured that out yet.

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Established Contributor
thankfulheart
Posts: 619
Registered: ‎09-26-2011

Re: (Hopefully) My Journey to Homeownership

Builder called today to set up my pre-building appointment where we go over all of the plans/changes, etc, to make sure they get it right.  It's next Wednesday!

 

LO emailed that "unless they ask for a blood sample, we should be good for UW next week". I'm getting my fingers ready for a stick, just in case. :smileywink:

 

My SLs are finally under one roof, but are not reporting the correct payment amount. The paid off loans are also still reporting.  LO said to NOT dispute anything right now, but to see how time plays out (and my call into the ombudsman).  She did give me the go-ahead to open an NFCU account, but NOT to accept any new credit from them until after the house is closed. 

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)


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