So Disappointed, Discouraged and Simply Sad ;-(

[teachag89]

I would agree to go with a broker if you haven't already.  Where are you located?

[frugalQ]

This seems really odd.

If the collection has been moved, it seems a they could do some sort of rapid rescore and price that its no longer there.

If the overdraft was paid automatically via the money in your savings account, I don't see why that should be a problem.

I have my savings account linked as overdraft protection for my checking....and per the terms, the bank still charges the overdraft fee although they draft the funds from savings.

Are you sure there wasn't anything else? It seems as though this lender does not want to help people who have a blemish or two on their credit....even if its corrected.

[keyelove]

---

@frugalQ wrote:
This seems really odd.

If the collection has been moved, it seems a they could do some sort of rapid rescore and price that its no longer there.

If the overdraft was paid automatically via the money in your savings account, I don't see why that should be a problem.

I have my savings account linked as overdraft protection for my checking....and per the terms, the bank still charges the overdraft fee although they draft the funds from savings.

Are you sure there wasn't anything else? It seems as though this lender does not want to help people who have a blemish or two on their credit....even if its corrected.

---

I promise you there is nothing else. I honestly believe the LO is blown away as well. He's like he's seen other stuff compared to ours. He's gone over the positives and it just seems like a doable deal. I believe they are also looking at the fact that both my DH and I have filed BK in the past. Mine in 2007 and his in 2010. Well we didn't even seriously start dating until towards the end of 2010 going into 2011 so him having a BK after me has no correlation to how we managed our finances together. We just made a year married this month.

But I assure you these are the two things that he says are the issue.

[keyelove]

---

@teachag89 wrote:

I would agree to go with a broker if you haven't already.  Where are you located?

---

I'm in Illinois. I agree we should find someone else. I'm trying to figure out how this whole FHA case number thing works. I've heard horror stories about getting it transferred. Plus we definitely won't be able to get the home we signed a contract for because we'll have to start all over again and then won't be able to move until January. We'll have to find something existing.

I'm just so......worn out. If you look at my siggy and see where I started (March/April 2013) to where I am now - please know that was a ton....of work so I don't have a whole....lot fight left. Just don't know.

[teachag89]

I don't have a solution but I want to offer you encouragement.  I know this process really beats you down when you're working so hard for it.  Stay in the game!  People with much worse situations are getting mortgages.  Switch lenders.  He may be nice but someone else may be able to work a little harder for you to get this loan.  Call around to a few other lenders and tell them your situation, see what they think.  

[Beasley12]

How many overdrafts did you have? Or. How many do you average in a month?I have heard of denials based on excessive overdrafts. Even though the overdraft comes from your savings it would still look like you cant manage your money properly.

[keyelove]

I would an average of 2 a month. I just thought they reviewed the sum of the file. Considering some get approved with open collections etc....I mean nothing I can do if that's the rule except try again in two months with clean bank statements.

[Beasley12]

I agree you should reapply with clean statements. If you submitted two months worth of statements with four or more overdrafts, they will deny you but I would call to find out their exact reason. Good luck.

[cocomadd]

I would look at the situation and see if possibly you could get your money back and wait 6 months for everything to clear and try again.  My fear is if they continue to pull your credit to get you approved that too will work against you.  I am sorry, I am sure ou didn't want to here that, but sometimes we just have to wait....

Best for you & yours.

[keyelove]

Thank you all so much for the support, encouragement and suggestions. We are going to see what the CEO says on Monday or Tuesday and take it from there. I so appreciate this community. It's helps you feel like you are not alone in this journey. I will keep you all posted.