Underwriter Conditions

[YHWHUDAH]

Im not sure how to go about this, so I would like some feedback. My underwriter wants me to write a letter stating how my son's childcare is provided at no cost. However, I never stated that on the application. Ok, I have to ways I can go by this. The first one is the truth, which is that my wife provides for his childcare. She pays for day care and I have all checks and bank statements to prove that from this year. However, I did not use her on the application because her credit score is well below 570. If I tell them this will they want to view her credit, job income, and bank statements?

Second way is that I can lie. They know that I am permanently disable from my military service, so I could say that I provide his care at home free of cost by myself while my wife is at work. Positive is that I would not have to disclose any information about my wife, but the negative is that I will not be telling the truth.

Just thought I would ask, because I don't want to have any problems going through underwriting. I have read numerous horror stories on the board and I am kind of worried. Please advise and thanks in advance.

Regards

[Anonymous]

My vote is the TRUTH but I would keep my letter short and sweet and to the point.  The last thing you want to do is get wrapped around lies and the underwriter finds out and decides to question everything. 

[RW771]

I would definitely be honest and explain the situation. Lying will only come back to bite you and if they catch you, they may wonder what else you have lied about, or may deny you altogether. I understand how sticky your situation may be, but being honest in my opinion is the best way to approach this. Also with it all on the table, they may be able to help advise you of any other options you may have, but can't help you if they don't know about it.

[YHWHUDAH]

Thanks, NChopeful

My heart is telling me the truth as well. By the way, I will be moving to Raleigh if this loan goes through.

[YHWHUDAH]

Thanks, RW771

Yes, you are righ and it probably will come back and bite me. It's just...it got me all worked up and probably for nothing. I am just going to be honest; its kind of funny that I asked, because I knew I would tell the truth, but that little devil just keep saying you might get denied...blah...blah..blah. I just wanted some feed back from other people on how they would handle this. It's always good to confirm something with a live person. What options were you referring to; do you happen to know some of the top of the head? Again thanks.

[RW771]

Unfortunately I don't know what other options may be available. There are other very intelligent and knowledgeable members that I'm sure will be able to help you. Hopefully someone will chime in soon and be able to give you a little more advice. Just stay positive and remember that honesty is the best policy. Not trying to sound like your mother, but I'd hate to see it backfire on you, plus it's the right thing to do. Best of luck to you

[mamahearts]

---

@RW771 wrote:

Unfortunately I don't know what other options may be available. There are other very intelligent and knowledgeable members that I'm sure will be able to help you. Hopefully someone will chime in soon and be able to give you a little more advice. Just stay positive and remember that honesty is the best policy. Not trying to sound like your mother, but I'd hate to see it backfire on you, plus it's the right thing to do. Best of luck to you

---

+1!!!!

Good luck to you! Let us know how things go! 

[YHWHUDAH]

Thanks, mamahearts I will keep everyone posted.

[Booner72]

Ten bucks says they pull your wife's credit anyway.

I went in w/o my husband, too, bc of his credit.  The LO said it's standard to run the spouses credit to check for secret mortgages.

The childcare is no biggie!  Don't worry.  Good Luck!!

[YHWHUDAH]

Thanks, Booner72. I don't think they ran my wife's credit yet because we follow her credit and no new inquiries or anything has showed up on her report.