New Contributor
Posts: 70
Registered: ‎06-30-2011
Re: Still Waiting for Preapproval-Updates
[ Edited ]

Everything will be fine Chbraswell... this is just a test to see how bad you want it.  I have full faith in you.  If they are still asking for documents then they are still looking at your file... which is good.  Tell me more about the gift award and the account with overdraft fees... I'm in the same boat but they have not requested updated bank statements yet because I haven't found a house but I know they will.  I have a second account that I rarely use but it also has a few overdrafts that I do not want exposed.  Good luck all!


UPDATE:  I received my preapproval letter in the mail with my conditions... it looked a mile long until I noticed that some of it was repeated and most of it had to do with finding a home.. the one that stuck out to me was that I have an open collection from a past due university loan... I have been making payments on it and supplied supporting documentation... but the conditions state that it has to be paid off!  When I spoke to the LO before I received the letter she stated I just needed to update the documentation and now I read this!  It sucks because I have $2200 outstanding and if I pay this off, not only will it probably drop my score, but I won't have enough for downpayment and closing... I am waiting to hear back from her if this is the case... To top that off, they dropped my affordability because they claim that the findings of the DU states that all debts must be included even ones that have less than ten months... We have a second car that will be paid off in a couple of months and that screws me... Of course if I pay that off and the collection I can forget about money for downpayment and closing costs.... I want to scream!

Starting Score: 537 (6/2011)
Current Score: Experian 679; Equifax 653; Transunion 664 (My Fico) (4/2014)
Goal Score: 700 across the board (12/31/2014)

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