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Valued Contributor
tooleman694
Posts: 2,297
Registered: ‎08-25-2011
0

Re: overdraft fees

Just explain to the UW why it happened and what you have done to prevent it. You should be fine.

Established Member
lifeafter
Posts: 71
Registered: ‎12-26-2012
0

Re: overdraft fees

Thank you, I hope you are right. This is just about the most stressful thing Ive ever been through.  I had bid on a house last May that the appraisal came back under the asking price and my offer. The sellers wouldn't budge so I know things can go wrong.  I just never imagined it would be my fault if something went wrong. Clearly this is my fault due to ignorance. I could have found a way to have prevented the overdrafts had I known it would be an issue so I am definitely beating myself up about it.  I was able to build my credit back up because of lurking on this forum but I never read or thought to read about overdrafts when trying to purchase a home. I honestly thought I was over the biggest hurdle when the appraisal came back several thousand over the price. Now this! I'm at my wits end.

Contributor
leppy2
Posts: 127
Registered: ‎12-11-2012
0

Re: overdraft fees

Try not to panic. It won't change the outcome. At least that's what I'm trying to convince myself!

My file is with the lender UW today. It should be out by Thursday. I will let you know right away what is said about my hubby's overdraft fees. He had 4 during a two month period where he just forgot to take out for debit purchases. To be fair our first grandson had just been born and we was so giddy that good sense left us!

So hang in there. I think that if your LO believes in you and understands your reasons that you will be ok.
Established Member
lifeafter
Posts: 71
Registered: ‎12-26-2012
0

Re: overdraft fees

Thank you Leppy. First congrats on the new grandbaby! 

I'm not sure if this is true or not but I read some place (possibly on this forum) that if you are approved by the uw's then it goes to USDA mostly just to make sure the uw's did their job and that rural development rarely denies if you made it that far. I will certainly keep you in my thoughts and prayers. I believe my file is ready to go to USDA but not positive on that. I'm still not certain what my broker meant when he said he had spoke with the account rep who said with a LOE my overdrafts shouldn't be an issue. "Shouldn't" being the key word. He didn't say it wouldn't be.

I should also apologize for being so self centered and thinking this is the most stressful thing I've ever been through. I'm certain that awaiting the birth of a healthy grandchild would be more stressful and more thrilling all at the same time.

Best of luck to you and yours.

Contributor
leppy2
Posts: 127
Registered: ‎12-11-2012
0

Re: overdraft fees

You are certainly right that was extremely nerve wracking but his little smile makes all this worth it! But no need to apologize. I haven't any fingernails left and can't stop snacking on everything! This is so emotionally taxing! If i make into my new home i intend to grow old and never leave!
Established Member
lifeafter
Posts: 71
Registered: ‎12-26-2012
0

Re: overdraft fees

Haha! I'm in the same boat, fingernails all down to the nothing. While I was in rebuilding my credit mode I also got my body into shape and I think Ive gained at least 10 pounds over the past few weeks. Emotional eater here--along with the holidays, it doesn't do a body good, lol.


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