topic Re: My Roller Coaster Journey to Homeownership in Mortgage Loans

My Roller Coaster Journey to Homeownership

Sassy_Taurus — Sat, 09 Apr 2016 15:51:03 GMT

This has been one heck of a ride.

1/6- Approval from DU exactly 2 yrs after ch7 discharge
2/11- put offer in at $170k
2/13- seller countered lowering closing assistance, switched escrow companies, house as is
2/13- accepted counter
2/23- appraisal ordered
2/24- home inspection & appraisal completed
3/1- Appraisal back. Appraised $5k under offer
3/4- Cancelled escrow seller does not want to lower price
3/6- Notified that seller will agree to lower
3/9-Submitted new offer for $165k
3/10-Seller countered at $166k and no seller credit
3/12-Accepted counter
3/15-wired EMD to escrow
3/16-File sent to UW
3/17-LO called and said that he sent me through DU and now I would need $4000 in reserves. (Purchase price less than original contract) I have no more money so I called another lender that had also pre approved me. That LO ran me through DU came back approved no reserves. Emailed him the contract so that we could get started.
3/22-File sent to processing (no movement because of month-end funding)
3/31-UW
4/8- new credit report pulled original one expired. My score dropped because of a medical collection. They had me pay two accounts that were closed by credit grantor because of bk filing. They said paying will give me 29 pt increase. Rapid rescore will be done Monday.

I've had a migraine for a week straight and don't know how much more I can take. Praying for approval on Monday so fingers crossed.

Re: My Roller Coaster Journey to Homeownership

Anonymous — Sat, 09 Apr 2016 17:10:55 GMT

That is a wild ride. I also know what you mean about the headache. Every purchase contract should include free shots until closing. Good luck to you!! I'm at about the same place. As of yesterday waiting on title search and underwriting'a approval.

Re: My Roller Coaster Journey to Homeownership

Anonymous — Sat, 09 Apr 2016 17:11:28 GMT

Re: My Roller Coaster Journey to Homeownership

Sassy_Taurus — Sat, 09 Apr 2016 18:02:52 GMT

Yes it really has been a wild ride. I'm sure if **bleep**s were included it would prevent a lot of people from stressing out lol. Good luck to you too!

Re: My Roller Coaster Journey to Homeownership

GirlMelanie89 — Sat, 09 Apr 2016 20:32:00 GMT

Wow Sassy!!!! That is a ride!! So the LO told you to pay an account included in your BK?! I've never heard of that!! And doing so will increase your score??! Please keep me posted on whether or not that did increase it! I'm still keeping my fingers crossed for you!

Re: My Roller Coaster Journey to Homeownership

Anonymous — Sat, 09 Apr 2016 20:42:50 GMT

I think every mortgage applicant should also be given a voucher to the local doc in a box for a RX for xanax.

Re: My Roller Coaster Journey to Homeownership

Sassy_Taurus — Sat, 09 Apr 2016 22:08:47 GMT

GirlMelanie89 it was not included however when I filed somehow they found out and closed it. So when they closed it showed the amount at closing. Being naive I delayed paying because I was pissed that they did it and I didn't include them.

Re: My Roller Coaster Journey to Homeownership

Sassy_Taurus — Sat, 09 Apr 2016 22:11:39 GMT

Dansamy I agree. My nerves are wrecked. I'm at the point where I just want to hear a decision.

Re: My Roller Coaster Journey to Homeownership

GirlMelanie89 — Sat, 09 Apr 2016 22:39:01 GMT

I don't blame you Sassy!! I would have been pissed too. Just when you think you're trying to do the right thing and save face for a company, they pull the rug out from under you!!

Re: My Roller Coaster Journey to Homeownership

Anonymous — Wed, 13 Apr 2016 17:39:45 GMT

@sassy any updates yet?

Re: My Roller Coaster Journey to Homeownership

Sassy_Taurus — Wed, 13 Apr 2016 18:10:34 GMT

Kelfos no update yet. I'm still waiting on the rapid rescore. Hopefully I hear something later today or tomorrow latest. Seller wants contingency removed.

Re: My Roller Coaster Journey to Homeownership

Sassy_Taurus — Fri, 15 Apr 2016 17:57:03 GMT

UPDATE! Rescore came back and my middle score went up 31pts. Underwriter is reviewing and should have an answer later today or by Monday...

Re: My Roller Coaster Journey to Homeownership

theheater30 — Fri, 15 Apr 2016 20:14:55 GMT

Awesome! Good luck! You're so close to being done!!

Re: My Roller Coaster Journey to Homeownership

Sassy_Taurus — Fri, 15 Apr 2016 20:43:44 GMT

Thanks theheater30.

Re: My Roller Coaster Journey to Homeownership

Sassy_Taurus — Tue, 19 Apr 2016 19:02:05 GMT

Things are starting to look up.So yesterday I received conditions. Fairly simple

1. Inquiry LOE
2. LOE for late payment last year
3. Gifter Bank Statement
4. Court Order for Child Support and 6 month proof of payments
5. Updated Bank Statement

took all of 30 minutes to send over the docs. Hoping to get a CTC this week.

Re: My Roller Coaster Journey to Homeownership

Sassy_Taurus — Tue, 19 Apr 2016 19:03:01 GMT

Oh and LOE for why I want to buy a home $1000 over appraised value

Re: My Roller Coaster Journey to Homeownership

Anonymous — Tue, 19 Apr 2016 19:12:01 GMT

congrats so glad things are starting to look up for you I so can't wait to get to this point I just found a new city to relocate my 200k loan to and feel good going with a new construction home and saving a ton of money Agent is putting in an affer for 175k on a 178k price crossing fingers...keep updating yayyyyyyyy