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Need quick hud supression

Established Contributor

Re: Need quick hud supression


Sgabriel wrote:
Now he tells me to drop it cause he is afraid because its a defaulted gov backex loan they will take away his va benefits and his social security benefits..... un real, and you cant make that **bleep** up... again everyone thanks for your help

Well I should have asked this sooner. Is uising his VA entitlement for a VA mortgage to buy this house?

 

National Mortgage Banker.
VA Mortgage Expert.
Message 11 of 49
Member

Re: Need quick hud supression

Originally he wanted to go with a va loan about a year ago... his thought was that it had been 4 years cause they ask have you defaulted on a federal loan in the last 3 years, i guess that loan officer pulled that report didnt say why just said he couldn't qualify for a ca loan at that time. So its husy a fha loan.
Message 12 of 49
Established Contributor

Re: Need quick hud supression


Sgabriel wrote:
Originally he wanted to go with a va loan about a year ago... his thought was that it had been 4 years cause they ask have you defaulted on a federal loan in the last 3 years, i guess that loan officer pulled that report didnt say why just said he couldn't qualify for a ca loan at that time. So its husy a fha loan.

I'm going to PM you.

National Mortgage Banker.
VA Mortgage Expert.
Message 13 of 49
Member

Re: Need quick hud supression

Not sure what pm means
Message 14 of 49
Established Contributor

Re: Need quick hud supression


Sgabriel wrote:
Not sure what pm means

It's a private message through the forum. 

National Mortgage Banker.
VA Mortgage Expert.
Message 15 of 49
Member

Re: Need quick hud supression

Ok... I'm think I found it and just replied
Message 16 of 49
Member

Re: Need quick hud supression

He wont qualify for a va loan cause we need both his inclome and mine to jave enough income
Message 17 of 49
Established Contributor

Re: Need quick hud supression


Sgabriel wrote:
He wont qualify for a va loan cause we need both his inclome and mine to jave enough income

VA will have a lower monthly payment than FHA & VA has a higher debt to income threshold than FHA does so if he qualifies for an FHA loan he should qualify for VA.

In addition to that, with the active CAIVRS hit, he does not qualify for FHA.

 

 

National Mortgage Banker.
VA Mortgage Expert.
Message 18 of 49
Member

Re: Need quick hud supression

We qualified together, fha is now in the process of reviewing bank of America actions in a almost 4 year delay in filing, they said they would have a report within 48 hours.... who knows.
Message 19 of 49
Established Contributor

Re: Need quick hud supression


Sgabriel wrote:
We qualified together, fha is now in the process of reviewing bank of America actions in a almost 4 year delay in filing, they said they would have a report within 48 hours.... who knows.

Ok so why do you think that you wouldn't qualify for VA together? 

National Mortgage Banker.
VA Mortgage Expert.
Message 20 of 49