topic devestated but Hopefull in Mortgage Loans

devestated but Hopefull

Anonymous — Fri, 30 Jan 2009 18:18:39 GMT

We had an application in for a USDA loan and that paticular company denied us due to mortgage lates in JAN-Feb-MAr of 2008. The lates were due to a payment plan .........

We have an application in with another lender who is saying they see NO problem with it at all. Chase is the underwrighter I think anyone have any experiance with them ?

Our scores are H-704-651-642 M- 690-658-662 our DTI is fine house is approved income all fine!!!!

They just did not want to see the lates for 12 months (the lender NOT USDA) USDA said it was fine! since USDA is currently out of funds the company would have to fund it till funds come in. We also have 8k to put down if needed I know people in MUCH worse situations are getting approved I am so upset.

I feel like I was stabbed in the stomach! Chase is the underwrighter for the new lender does anyone have any advice or guideance they can offer to help me enjoy my weekend I was told once already "I see no problem" then they denied us now we are hearing it again.

Anyone Help?

Dallas we are not to far you wanna take on my loan?

Re: devestated but Hopefull

Anonymous — Fri, 30 Jan 2009 19:00:15 GMT

Nevermind I talked to my new lender and he told me that they went by USDA standards and that was no explanation needed if scores are over 620 and ours are 650 mid score, and that he knew the other lady/lender and that she was an idiot not nice I know but made me laugh. So we should be good. I can enjoy my weekend at BillyBobs and Cross canadian afterall

Re: devestated but Hopefull

ShanetheMortgageMan — Fri, 30 Jan 2009 19:32:03 GMT

Well there you go, solved your own question... you like the rock country music eh? I'm not a huge country fan but I like it more than most Californian's I'm sure. But that quasi-country music, the Carrie Underwood, LeAnn Rimes, Keith Urban stuff... Trace Adkins is a bit too much though. I checked out Cross Canadian's website, they sound pretty good. Have fun tomorrow!

Re: devestated but Hopefull

Anonymous — Fri, 30 Jan 2009 19:46:50 GMT

Well being from TEXAS you know we all think we have the biggest and the best But Cross canadian is Great! not so Country more Outlawish I guess, like Reckless Kelly, Pat Green, Ray Wiley Hubbard.

Do you happen to agree Shane with my new lender? Any advice on our situation?

Re: devestated but Hopefull

ShanetheMortgageMan — Fri, 30 Jan 2009 20:22:30 GMT

Yeah I think you'll be fine - I've never gotten an answer from Chase's Rural Development division that was incorrect. Their rates aren't always the absolute lowest but they know what they are talking about.