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my journey

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bebee25wj
Established Member

my journey

Hi all I just wanted to give some hope to those with bad credit pushing for a mortgage. I started in may 2013 getting me and my husband's credit together. He had 509 499 and 515 mines were 599 595 595. I spoke to a mortgage officer and she told me what needed to be paid off. Just when I thought we were close my student loan lates reported due to miscommunication from sallie Mae. Score dropped tremendously. Fast forward 4 months I made everything current did some pay for deletes and I scores became 643 606 617 (husband's) 618 622 611 (mine) we took a chance with regions bank even with the recent 120 day lates AND a surprise collection that popped up and we got pre approved through underwriting. I was still skeptical but the process moved along pretty stress free. My husband owes 5000 in taxes but it's not in collections and they didn't even ask about it. We got in contract with a home did the appraisal and inspections and was approved today to close Tuesday....WITH 8 recent120 day lates. I say this because I was discouraged by many people say that I would never get approved with that but hey. .. I'm closing tuesday!!! The lates don't cancel you out it depends on the situation. We are putting down $5000 that's it so please before you give up go talk to a loan officer. God had the final say in this situation and he saw us through. I just wanted to share that♡
Message 1 of 6
5 REPLIES 5
bebee25wj
Established Member

Re: my journey

Sorry for the typos and I couldn't fit all the info in but if anyone has specific questions I'm all ears
Message 2 of 6
rose921
New Contributor

Re: my journey

Wow! Congrats! We are trying to buy also but have heard several no's. My reports are almost clean...but I had a BK in 2005 and then a bad divorce after do some paid off CO CC's and a repo due to come off in a month or so. All of my scores are about 670's. Hoping to have some luck after that repo falls off. I haven't paid anything late in almost 7 years and still can't get a home. My DH has some student loan lates from 2012 & since they were 120+ days we got shot down cuz lates 120+ need to be 24 months past. His middle score is about 650 but the lates stopped us from doing the loan in just his name. Other then some 30 day lates on and off in 2011, no bks no collections.

It's nice to hear that someone was able to make their dream come true despite being told no, it's not possible. Keep waiting.

Where is regions bank? If you don't mind me asking.
Message 3 of 6
bebee25wj
Established Member

Re: my journey

Thank you! It's seems like your pretty close! I'm in Louisiana and we have quite a few down here but I don't think we're the only state with them. They are a very lenient bank and very nice to work with
Message 4 of 6
tony46231
Contributor

Re: my journey

http://www.usbanklocations.com/regions-bank-locations.htm

Starting FAKO Score: 08/16/13 - EX: 702 EQ: 694 TU: 702
Starting FICO Score: 08/19/13 - EX: ??? EQ: 700 TU: ???
Lender Pulls: 02/28/14 - EX: 736 EQ: 716 TU: 748
Closed on 04/25/2014 - Loving it!
Message 5 of 6
rose921
New Contributor

Re: my journey

Darn. None in ohio. Thx got the info though. Best wishes on your new home bebee
Message 6 of 6
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