Thanks soooo much mpmss1!!!! This process is quite the mental work out
I just need to make it until the end of this upcoming week. Good thing is I have to update the insurance info and I have the inspection scheduled for Wed at 1pm so I have some things to keep me occupied. I know exactly what everyone else was saying about stalking
I went last week to just drive around the neighborhood and the seller is not watering the grass at all. I just do drive bys
Oh I forgot to mention to everyone that my appraisal came back on Friday as well. Sales price $157K appraised at $165K so thats good. My LO went ahead and ordered the appriasal on Wed when we received word we would be getting an approval letter.
Thanks so much. I am thinking good thoughts for us all!!!!!
Good Luck to you!!!!!
Starting Score: TU 589 EQ 526 EX603
Ok Update:
So last I updated it was 02/26. Things were moving along. I had the appraisal in. I scheduled the home inspection 02/29. Inspection went great..just a leaking faucet The inspector commented that he thought I was getting a great deal and should come out really well down the road. I left smiling from ear to ear. A big cheese smile. So I get home and I call my LO and tell her the great news. She stopped me in my tracks. She said she had tried to catch me before I did the inspection. The UW was denying my loan because of the second mortgage from my foreclosure in 2009. It is showing late each month even up to last month. She said she thought I told her it was charged off. I said it is, it has been charged off since April of 2008...she said I had to tell my realtor. I told her to hold off and let me try and get this rectified. She gave me a day.
From the second I got off the phone with LO I was back on it trying to track down someone to talk with at that second mortgage co. I also immediately disputed it. the lated with all three credit bureaus. I did not know what exactly the issue with it was until I was told I was being denied again. That it was reporting late and lenders looked at that as an "open foreclosure". This was Wednesday. Thursday I woke up back at it again with the second mortgage co. I went through like 6 different numbers before I got to someone in collections to assist me. I explained the situation and explained that the mortgage was charged off and that a foreclosure had taken place. They had no idea the property was foreclosed on. I faxed them proof from the clerk of court. The asked for something from the first lender. The said they would update bureaus when they have all the information in and did their own research. This was not easy and I went through many rude people and attempts to still collect. They did say that since the property foreclosed they would cease all collection efforts and most likely issue a 1099-C. But I must add that I spoke to several people and was told several things from this account is not charged off to we do not find an account. I was even asked by one rep " why is it so important to you how we report it?".
So I contact the first lender and guess what? They had no idea the property was foreclosed on either. The story behind that is because they took over the company that initiated the foreclosure and did not have all of their information. I never realized the first lender never showed the property as a foreclosure on my credit reports(I did get a 1099-C though) so when second mortgage co pulled my credit(and they did the first person in collections I spoke too) they said they did not see any foreclosure. I spent the whole day on and off the phone trying to work this out.
Friday I get an email saying the loan was denied 03/02. Heartbroken I contacted my LO and thanked her and told her I appreciated all she had done but I would contact her again because I disputed the information, I contacted the mortgage companies and I was trying to get this cleared up. I will try for another house next month. She said you know what, I am going to resurrect your file. She told me to just try and get something proving what I said from both lenders in writing. So she re-opened my loan and was willing to go above the UW to show that I did meet the current FHA guidelines. I got in touch with my realtor and got an extension on my purchase contract because we stated we would close by 03/06. The sellers agreed to extend.
This is a long story but to jump ahead, the processor ordered a credit supplement once I let the LO know that I believed my reports were updated by the second mortgage and I had a written letter in hand from the first lender stating the date of the foreclosure. I participated in a conference call to both lenders to verify the status of the loans and property. This was successful. Today I received Final Approval and I close on 03/21 at 10am. Next week. God willing
I am tired, I look tired, I have been extremely stressed, and on top of that I need my wisdom teeth pulled so I am in pain right now BUT I am determined. I am on my way!! Thank you all for your well wishes!
OMG!!! how stressful! congrats on your approval. You deserve a whole bottle of 2buck chuck. (gotta save the good stuff for closing) post a pic of the keys when they are in hand! Keep on trucking!
And the race goes not to the swift
That is amazing!! Congratulations!!
I CLOSED!!!!!!!!! Yesterday as scheduled. If I can do it You can too!!!! Thanks everyone for your well wishes. This site has truly been a great resource for me on my journey. Now its time for the Fun stuff!!!! I feel very blessed to have come from where I have and now be able to be a homeowner again, on my own. I am a much wiser person now having been through this all. It was all worth it. I have a home for my three kids with lots of space and a mortgage at a great rate that I can afford comfortably. I did it right this time and I did it on my own Thank GOD!!!!!