Sooooooo MAD!

[Anonymous]

My husband and I are planning on applying for a mortgage in August.  Today, I log on to my bank account and find that the daycare check which I post-dated til 6/14 was paid last night.  They paid the check and charged me 32.00 for overdraft courtesy.  I called my bank and they said the daycare's bank should have caught it and there is nothing they can do.  Now I am going to have a hot check on my bank statement for the next year.  Is this going to kill my ability to get a mortgage?  I'm so mad right now I can barely think straight!!!

[techgirl]

You'll probably be okay - if it is just one. Don't make it a habit, if I were you put a cushion in there of a $1,000 or so and don't dip into it - that will help ensure no overdrafts happen from this point on. Usually they only ask for the last two bank statements, unless there is a reason. Start saving now for your home - the more money in the bank the better. Don't buy anything with your credit cards. Good luck.

[Anonymous]

Yes, it's the only one.  I haaaaad a clean record.

[cracksmeup]

Try and call the bank.  I did last month and explained that I made a mistake.  I told them I was in the process of applying for a mortgage and this would be a problem.  I also explained how I have been with them for years and as an act of good faith requested that they remove the overdraft.  They did it!  The worst they can say is no, right?  Oh, and don't just call the customer service number.  Call your local branch, the one your opened the account at, and speak to a manager.

[MissMia75]

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@cracksmeup wrote:

Try and call the bank.  I did last month and explained that I made a mistake.  I told them I was in the process of applying for a mortgage and this would be a problem.  I also explained how I have been with them for years and as an act of good faith requested that they remove the overdraft.  They did it!  The worst they can say is no, right?  Oh, and don't just call the customer service number.  Call your local branch, the one your opened the account at, and speak to a manager.

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You will be fine.  As a worse case scenario you would have to write a LOE for the overdraft fee.  Stop stressing you will be just fine

[Gray]

Some banks like USAA, will let you specify another account as a source of funds. USAA will do an automatic transfer for the shortfall.

https://www.usaa.com/inet/pages/faq_BankWS_Overdraft_Protection_BankFaqL1_index

Navy Federal also has a savings transfer option (third tab--less obvious):

https://www.navyfederal.org/products-services/checking-savings/checking-protection.php

I have had a couple overdrafts in my personal checking account (small stuff, not bills) over the past decade that have tapped USAA's system. I get an email and see that they added funds, and I put more in just in case.

[Anonymous]

I'm in the same boat right now... We are hoping to close today... Underwriter last night asked for another bank statement, this bank statement has 1 overdraft charge on it.. From April 16th.. Bank statement shows that as soon as it hit nothing else was charged to the account.. Now the LO is saying this could kill the deal.. We are already moved into the house and the reserves are in the bank... We have jumped thru hoops and have done/provided EVERYTHING including a Letter of Explaination to the overdraft charge.. I have not slept at all last night..

[Booner72]

Good luck on this!