Sould be finding out today if we are approved! Need encouragement / advice...

[Anonymous]

So my husband and I have been through the ringer the past couple of months. We put in an offer on our dream house and it was accepted. We got through everything and once we went into underwriting things started to fall apart. Long story short, we had a couple tax isssues and the underwriter would not accept anything less than the tax transcripts from the IRS...the sellers werent willing to give us an extension while we waited for the transcripts to bounce back (we were told it could take 6-8 weeks) so the deal fell through and we were absolutley devastaded. Thank goodness our apartment complex let us stay despite giving our 30 day notice. A couple days later, we got a call from our agent saying the sellers agent thought they had someone that could help us despite these tax issues. We immediately bagan working with a wonderful mortgage banker (who is also handling the loan for the people our sellers are buying from) from Wells Fargo to transfer our FHA file and submit the loan. We went into underwriting and found out Wednesday that our loan was handed off to a second underwriter with the recommendation for approval. I was told we should find out today if we are approved. Im wondering if anyone out there has been through a similar situation? My husband and I are praying and hoping that we get approved. This hold up with our loan is affecting so many people and we feel terrible. This is our dream house and the whole situation has been terribly stressful. Hoping to be able to celebrate tonite!

[Anne1208]

Good luck!! I am sorry you went through all that.  Sounds promising this time.   

[Anonymous]

Thank you!!!!

[ezdriver]

How far are you from the nearest IRS office? If reasonably close, you could get transcripts in person instead of waiting for the usual process to work. Because the IRS portal was hacked, and more extensively than originally reported, the wait time to get the transcripts from the usual 4506 or portal process is very unpredictable. Hope it all works out for you today.

[Anonymous]

Im in the Boston area so we have one close by...being first time buyers we really didnt know how to handle the tax situation so we didnt even know that was an option. Our new mortgage banker has helped us navigate the situation very quickly and effectively. Thank you for the well wishes.

[Anonymous]

Good luck! Pulling for you!

[Anonymous]

Thanks!

[Anonymous]

Pulling for you too, hope it goes through.