I'm trying to use the FHA Back to Work or USDA "extenuating circumstances" because I'm 28 months out from a foreclosure. I completed required counseling, waited 30 days, and then found a lender one state over who claims to have done the BtW program a lot.
I decided to put in a app because at that point I really just wanted a sense of my scores for a mortgage pull. I applied Saturday AM and didn't expect to hear anything until Monday. Woke up Monday to an alert that they'd pulled from TU. I heard nothing all day so I emailed the guy. This morning, I received an alert of a HP from EQ and EX and an email from the mortgage banker asking ME to call HIM at 11. I asked if 25 minutes would be enough time since I have a meeting at 11:30 and he said that should be fine. Nothing else. I called at 11. Voicemail.
In the meantime, yesterday I talked to 2 local people. One woman was awesome and SO nice, but had never heard of BtW. She went to look it up and called me back and said they don't do it because their investor only does auto underwrites. But she was really intrigued and said she'd emailed the CEO to ask why they didn't do them. She also passed my info on to someone she knew and recommended I call a local broker, which I did. They called back almost right away, discussed what I wanted to do and said they could probably do the USDA, but had never done BtW so would talk to their investors to see if they could do it.
I'm only a couple of days in and I'm already frustrated. I'm not impressed with the guy who actually has my application and pulled credit! Seems like the local brokers work with "investors" as opposed to shopping loans around.
At this point I just want my scores from the first guy and then I can decide what to do. Maybe they're too low so I'm not a priority to him? If so, he should just say so and tell me my scores.
Starting Score: 2/2013 EQ 535Arg! So guy #1 got back to me . . . in bad news see my new thread on dodgy mortgage guy!
In better news he said my middle score was 685! He didn't have the rest on him so is supposed to email them to me.
In even better news, a local banker called me back and said she thinks she can do it via FHA BtW (they do all UW and processing in house) and so I put in an app with her. She said USDA is hell to work with in Alabama, but I'm really leaning towards USDA so I'll need to talk to her about that.
