I have been crying for hours and I can't stop.. Please help me

[tinkytoo]

I was approved with conditions, I did everything the loan officer told me to do. I have a collections on my credit report from LVNV that I have tried for years to get removed, PFD or anything without them budging. Years ago I had disputed this it was saying factoring account instead of it being in with my other collections. one of the conditions was to write a letter saying I no longer dispute this account. I did not understand why I had to write this letter because the loan officer is making me settle this acct anyway, the processor said that she had to rescore me after this came off which I was seriously afraid of from just reading. Well after they did this my score dropped 26 points which has now tanked my loan. I was suppose to close today. My score before the rescore was EQ 665, TU 657, EX 594 now my scores are EQ 662 TU 631 EX 605.. I need 9 points and I have no way of getting them, my utilization on my credit cards is 12%, the loan officer and the processor tried to run the numbers to see if I paid down the credit cards will it give me any point and it would not. I feel terrible I can't even think straight all my hard work and dreams have went away.

[roadwork]

I am fearing the same. I did notice that mine is a collection, and not a factoring account. I wish, like you I assume, that they had mentioned thid could be an issue sooner. I applied in July!

[tooleman694]

The same thing happened to me, it took a couple months to get the points back. I didn't close I lost the house and took almost a year to finally close because we had to build a new house.

[tinkytoo]

that's what I'm afraid of this is the second time I have lost a house i'm devastated I truly feel like giving up completely.

[tinkytoo]

I am really upset about the money I put in for appraisal, home inspection with radon 500.00 and everything else. I really feel bad because the sellers moved into an apartment signed a lease on an apartment because we were assured that my file was good and not to stress. I really don't understand why they did this at the last minute. i want to just crawl in a ball it's the holidays and now my joy is gone.

[sharpie]

I think I would try getting an increase on a credit card and pay a little more off.  Get everything at 0 balance except one card leave with a 9% balance.  Combining that with a little increase in available credit (on a card with 0 balance)  might do it.  It's worth a shot anyway.

[tooleman694]

The LO you had failed misirably. sometimes they do loans and hope they go thru. The samething happened to me, I failed UWing 2 times before finally making it.

Dont give up though, you are very very close.

[tinkytoo]

I agree he is making all kinds of excuses as to why he did this or how it could have happened. The latest he told me was I was co signer on my daughters car well before we started the process she traded it in on my first and the rescored credit report it states paid in full but he he says that me paying it off hurt me. Is he full of it or what my scores before the rescores were 662,657,594 so how on earth is he saying this was the cause of a 26 point decrease. I swear to goodness I want to wring his neck.

[tinkytoo]

thank you I won't give up I been trying to hard to get my house.

[DallasLoanGuy]

fha loan?

some lenders go below 640

some lenders dont make you remove disputes.... if you fit a manual underwrite.

your lender is a schmuck