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My ex-husband has been paying court ordered child support for eight years. In that time, he's very frequently been anywhere from a few days to even a week late, but he's always paid. Even when unemployed. Well, here I am in underwriting, set for an 8/24 closing, and he's a week late on child support.
Unrelated to home buying, I finally got sick of a rash of very random payment dates and mailed in the paperwork for the state to begin garnishing him two weeks ago. That will be processed before my home closes. He also does have an 8 year track record of random but always paid child support.
How big of an issue do you think this current late payment will be? Why oh why must these things happen right during underwriting? Sigh.
For the record, he says he just didn't see his boss last week to get his check. This is the kind of bizarre explanation I always get from him after about 14 emails... but he always pays. Eventually.
If you are adding the child support to your income to qualify, typically lenders like to see the three most recent child support payments be consistent and on-time. If it's only a week late but the payment is for the full (court ordered) amount, it likely won't be too big of an issue. I would call your lender and ask just to be safe.
It turns out he had a reason not to pay... he was served by the state with the enforcement paperwork I mailed in awhile back and it TELLS him not pay. As they switch payments over from direct to me to being processed by the state, apparently I just don't receive payments for 21 days after he is served. Uh. Ok... What the heck?!
Luckily, this is all documented by the state so there's a very solid reason why he isn't paying AND it's for the best because it's all being done by garnishment in the future. Hopefully UW will understand the gap. Talk about rough timing, though.
@Anonymous wrote:
That's good news,I'm glad to hear that.Hopefully that 21 day gap with no support didn't hurt you too bad financially.
Thanks Harley. Usually this would be pretty awful but (UW aside) this is actually pretty good timing for the gap... I pre-paid my last month's rent in my rental so I don't have to pay rent in August and my mortgage won't kick in until October! So I can afford the lag right now but geez... a little communication by the state would've been helpful! I had to call them today to find out what on Earth was going on.
I'm in the same situation. Did you have to write a letter of explanation?