topic Re: In Underwriting in Mortgage Loans

In Underwriting Updated (NOW going through Underwriting)

Calito360 — Tue, 31 Jul 2012 01:55:01 GMT

Hi everyone. My L.O. just sent over my app to underwriting 2 days ago on a house my fiancé and I picked out. My scores are not the best and recently dropped because I had to be removed off of a cc that I was authorized on in order to qualify for FHA. We are waiting to hear back but the stress is killing me right now......

-worried about old $500 medical collection from CFC ( not old enough to drop off)

-baby is due on Aug 1st.

-the apt. Is looking crazy because of all the moving boxes

First home jitters, I guess.

Re: In Underwriting

Anonymous — Sat, 28 Jul 2012 17:59:12 GMT

Good luck. Hope everything goes good

Re: In Underwriting

Calito360 — Sat, 28 Jul 2012 18:31:04 GMT

Thanks, it's very nerve-wrecking but I know that when I'm holding those keys in my hand, it will all be worth it.

I will keep updating this post (staying POSITIVE!!)

Re: In Underwriting

Anonymous — Sat, 28 Jul 2012 18:53:33 GMT

I'm right there with u. I should be going to underwriteing next week. Usda

Re: In Underwriting

JusdoNit — Sat, 28 Jul 2012 23:40:04 GMT

Hang In there. Several of us are in the same boat.

Re: In Underwriting

Anonymous — Sun, 29 Jul 2012 00:54:34 GMT

Good luck! I agree it is very nerve wracking. We were supposed to close yesterday but got pushed back to Monday (already signed the docs). The two weeks leading up to this point were very stressful. But I am with you on the sentiment that it will all be worth it with keys in hand! Best of luck to you!!

Re: In Underwriting

tammyjk — Sun, 29 Jul 2012 16:18:04 GMT

Good luck! I havent been brave enough to start getting boxes yet

Re: In Underwriting

datzme4ya — Sun, 29 Jul 2012 19:21:12 GMT

It's all worth it!! We Pur our offer in on our house in April and closed early July. Things got a little scary for a bit, but we made it!! We had a wonderful MB that got us thru the process :-D Our kids are all now each enjoying their own room (we went from 738sqft to 1752sqft!!)

Re: In Underwriting

jules0580 — Mon, 30 Jul 2012 18:03:06 GMT

good luck! i understand it is nerve wracking. I closed two weeks ago.. it was soo stressful waiting not knowing..being afraid to pack etc. One thing I would tell you is that $500 old collection be prepared to have to pay it.. i had to pay an old medical collection of mine $374 underwriting came back with that as a condition. they dont always but it seems pretty common now. If they do require you to pay it you can make a settlement offer with the collector as long as they consider it paid and closed the UW will accept that. mine collector wouldnt acception partial payment but did agree to a pay for delete

Re: In Underwriting

Calito360 — Tue, 31 Jul 2012 02:08:37 GMT

My Broker found a Lender for me. I just signed the 92 pages of docs for the Loan Application, GFE and etc.... Everything was online through DocMagic which was kind of cool and NOW it goes to UNDERWRITING....

Sorry I guess I jumped the gun a little bit, lol

Re: In Underwriting

tammyjk — Tue, 31 Jul 2012 14:01:11 GMT

My LO sent my application docs overnight and they should arrive today. He also sent me a list of things I need to dig up, mostly old paperwork and not too hard to find. He quoted me a rate of 3.5 yesterday and kept telling me not to worry. I have two old collections from 5 years ago and figured I would have to pay them at closing but he said probably not since they are that old. Either way, I can if I need to but I will do it kicking and screaming. One is Midland that I refuse to pay.

BTW, if you have not opted out yet do so! When you start the process scam artist come out of the woodwork. I had one tell me I owed captial one 10k! Not only did this woman try to convice me I owed someone 10k but she said it was from 12 years ago. Ok I laughed but some would have a heart attack. Since I opted out I'm not getting all that stuff.

Re: In Underwriting

Calito360 — Sun, 05 Aug 2012 02:02:08 GMT

What do u mean opt out?

Re: In Underwriting

MarineVietVet — Sun, 05 Aug 2012 04:46:15 GMT

@Calito360 wrote:
What do u mean opt out?

Opt Out Credit Reports

Opting out inhibits baddies like CA's from sniffing around your reports. The CRA's sell your info and if so subscribed the CA will get alerted if an inquiry appears from a mortgage lender or the like. In turn the CA might decide to report knowing that many lenders will require you to take care of that debt first. Opting out prevents the CA from receiving that information.

At least in theory that's how it's supposed to work but I wonder with all the ways of gathering information these days if there is any reliable method of hiding our data.

Re: In Underwriting

Calito360 — Sun, 05 Aug 2012 14:41:24 GMT

Thanks, I just opted out electronically

Re: In Underwriting Updated (NOW going through Underwriting)

Calito360 — Fri, 10 Aug 2012 16:08:08 GMT

Just found out we were APPROVED for funding!!! There are a few minor conditions with the approval but nothing major. Feels like a weights been lifted but I know im not done yet until KIH ....keys in hand

topic Re: In Underwriting in Mortgage Loans

In Underwriting *Updated* (NOW going through Underwriting)

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Re: In Underwriting *Updated* (NOW going through Underwriting)

In Underwriting Updated (NOW going through Underwriting)

Re: In Underwriting Updated (NOW going through Underwriting)