Well my 1st home buying purchase has become an adventure, I knew it would be kinda off close going in anyway due to the couple of 30 day lates in 2011 and also following a bk that was discharged in nov 2010. I got passed the automated underwriting but LO said it has to go to a manual uw because the bka so after all the life story letters I wrote I believe she denied. So my LO wants to send it to a "Second Review" because he said that the loan financially is a good deal and he don't wnt me to lose the house for a couple of lates 15 months ago. My question is have anyone been through or heard any success going this route or am I dead in the water. Btw it's a VA loan. Thanks
Sometimes the LO or Broker has good reputation with lender and second review can work in your favor.
Hey I hope so jm-am, got a email today stating my file is with a senior level manager and I should have a answer tomorrow. Worst case I have the builders' lender waiting on a decision one way or another to see if they can make it happen for me. Man I wish I can go back 15 months ago and just pay the min. on those cards instead of waiting. Any derogatory marks after a bk will kill your mortgage dreams, now I know.