06-28-2013 02:40 PM
06-28-2013 02:48 PM
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.
06-28-2013 02:50 PM - edited 06-28-2013 02:58 PM
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.
06-28-2013 03:08 PM
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.
06-28-2013 03:31 PM
06-28-2013 03:35 PM
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.
06-29-2013 06:54 AM
06-29-2013 10:54 AM
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.
06-30-2013 05:42 AM
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.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.