topic Re: Non FHA lmortgages available??? in Mortgage Loans

Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 22:18:29 GMT

post deleted per request of solorider

Message Edited by haulingthescoreup on 06-25-2009 03:18 PM

Re: Non FHA lmortgages available???

Anonymous — Wed, 24 Jun 2009 06:13:28 GMT

Yikes! Someone's walking around with a doctorate that should have your name on it

You really want to get that cleared up, imo. Good luck!

Re: Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 22:18:51 GMT

post deleted per request of solorider

Message Edited by haulingthescoreup on 06-25-2009 03:18 PM

Re: Non FHA lmortgages available???

Anonymous — Wed, 24 Jun 2009 23:45:37 GMT

What are your FICO scores? I was able to get pre-qualified through Indymac (via OneWest Bank) on a conventional loan and my scores are in the 630-650's. That was at a 20% down payment. Per the guy I worked with, the decision really came down to my income versus the size of the loan. You might want to check with them if your scores are like mine.

Re: Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 22:19:14 GMT

post deleted per request of solorider

Message Edited by haulingthescoreup on 06-25-2009 03:19 PM

Re: Non FHA lmortgages available???

DallasLoanGuy — Thu, 25 Jun 2009 00:05:58 GMT

http://www.hud.gov/offices/hsg/sfh/sys/caivrs/caivrs_faq.cfm

You can call HUD about your CAIVRS report

Re: Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 22:19:34 GMT

post deleted per request of solorider

Message Edited by haulingthescoreup on 06-25-2009 03:19 PM

Re: Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 22:22:57 GMT

@Anonymous wrote:

(quoted post deleted per request of solorider)

She's actually an amazing contributor here. And I doubt her post qualifies as an "editorial" ~ unless "editorial" has an extra meaning you'd like to clarify for us?

Honestly, there's not much she CAN say. You've already seen an attorney and you have your answers. She's not responsible for your situation. All she can really do, shy of writing the letters or intiating the suit for you, is comisserate with you.

(quoted post deleted per request of solorider)

A conventional loan. As long as you have higher FICO scores and/or 20% down payment AND don't live in a declining market (of which Florida, California, etc, are ones).

If you live in a declining market and don't have a 720+ FICO midscore, no PMI company will likely touch you ~ even though with mitigating circumstances you might otherwise qualify for the conventional loan.

Message Edited by haulingthescoreup on 06-25-2009 03:22 PM

Re: Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 22:21:37 GMT

post deleted per request of solorider

Message Edited by haulingthescoreup on 06-25-2009 03:21 PM

Re: Non FHA lmortgages available???

nathan — Thu, 25 Jun 2009 22:22:13 GMT

(quoted post deleted per request of solorider)

Slow down. This is a forum; if some one can't answer your questions, they may still comment. I don't see any thing wrong with that. Welcome to the forum.

Message Edited by haulingthescoreup on 06-25-2009 03:22 PM

Re: Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 22:23:24 GMT

post deleted per request of solorider

Message Edited by haulingthescoreup on 06-25-2009 03:23 PM

Re: Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 22:24:26 GMT

@Anonymous wrote:

(quoted post deleted per request of solorider)

Um ... I *did* answer your question. Did you miss my post?

IF you have 20+% down AND a higher than 720 FICO midscore AND do NOT live in a declining market, you may possibly qualify for a conventional loan.

I do think that you over-estimate how quickly your score will rise, though, in the near future. While scores higher than 720 ARE attainable, usually you need to have a good mix of credit (revolving AND installment credit) AND have a longish history.

Do you meet that criteria?

And FTR, without actually running your credit, your assets, etc, even the best LO can only give you vague answers on whether or not you'd be approved for ANY type of loan. As Lewis Black likes to say, "we're all special little snowflakes." AKA, we're all different ~ and so is our particular situation.

Message Edited by haulingthescoreup on 06-25-2009 03:24 PM

Re: Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 22:25:19 GMT

@Anonymous wrote:

(quoted post deleted per request of solorider)

Unless you would like one of our resident mortgage gurus (Dallas or Shane) to actually *run* your credit and run you through the Automated System, this is about as "relevant" of "guidance" as you're gonna get.

IOW, only by seeing the complete picture can ANYONE give you assurances. Even then, you've still got to pass underwriting.

Message Edited by haulingthescoreup on 06-25-2009 03:25 PM

Re: Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 22:27:26 GMT

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Message Edited by haulingthescoreup on 06-25-2009 03:27 PM

Re: Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 22:32:39 GMT

@Anonymous wrote:

(quoted post deleted per request of solorider)

You were very lucky. I had friends who were killed on 9/11 (in the Pentagon).

(quoted post deleted per request of solorider)

Then, according to FICO, you've only had 4 years of credit, at best. You do realize that if it's not on your CRs, FICO doesn't see it, right?

(quoted post deleted per request of solorider)

Or it was ID theft, you said. If that's the case, I don't see how or why you feel the government is to blame.

I read another thread of yours where you specifically cited ID Theft.

(quoted post deleted per request of solorider)

Hmmm .... FICO usually says that once your new accounts reach their one year's anniversary do you see an increase like that. Are you sure it should be that quickly?

(quote post deleted per request of solorider)

But one *above* 720? In so short a time? First I've seen or heard of it.

(quoted post deleted per request of solorider)

Considering how many homeless people (no offense to anyone) live "off the grid" or drug dealers that live on a strictly cash only basis, that means nothing.

Lenders want to see how you *use credit* ... not how well you live without it.

(quoted post deleted per request of solorider)

Um, I answered that. A conventional loan IF you meet the rest of the criteria that I mentioned.

Message Edited by haulingthescoreup on 06-25-2009 03:32 PM

Re: Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 22:33:21 GMT

post deleted per request of solorider

Message Edited by haulingthescoreup on 06-25-2009 03:33 PM

Re: Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 03:24:12 GMT

Actually i felt i was contributing. Your post had been overshadowed by other posts and moved to the bottom of the page. I posted to sincerely wish you luck but most importantly to bump it back to the top of the forum so someone who COULD help you would see it.

(And thanks Wonderin, you're the bestest! <3)

Re: Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 22:35:58 GMT

solorider wrote:

(quoted post deleted per request of solorider)

What's the difference? Could it be that if it's ID Theft, it's *NOT* the fault of the government?!

In my world, we call that blaming an innocent party. Not to mention sounding kinda kooky.

(quoted post deleted per request of solorider)

If you have other items on your CR that aren't yours, I'd think that was a pretty good filter for the "infinite possibilities."

(quoted post deleted per request of solorider)

Yup. But then, when it comes down to it, they *have* to be like that. Otherwise our taxes would be even higher because *everyone* would just claim ID Theft or government error. Someone's gotta pay for the defaulted loans, yannow.

(quoted post deleted per request of solorider)

It should actually be rather simple to check out who actually used the loan. Somewhere, in the midst of all the paperwork will be the school attended, the legal mailing address of the borrower, etc. You should even be able to get transcripts of the classes taken. I know we're able to access DH's transcripts and all of his SL info.

(I paid out-of-pocket for mine)

The nice thing about our government is that irregardless of the "Reduction in Paperwork" Act, there's still paper trails for *everything.*

Message Edited by haulingthescoreup on 06-25-2009 03:35 PM

Re: Non FHA lmortgages available???

Anonymous — Thu, 25 Jun 2009 22:40:06 GMT

@Anonymous wrote:
Actually i felt i was contributing. Your post had been overshadowed by other posts and moved to the bottom of the page. I posted to sincerely wish you luck but most importantly to bump it back to the top of the forum so someone who COULD help you would see it.

(And thanks Wonderin, you're the bestest! <3)

De nada, LadyofNight. You're one of the best contributors here!!

(edited)

Hugs atcha, Lady!

edited just because I can't seem to stop...

Message Edited by haulingthescoreup on 06-25-2009 03:40 PM

Re: Non FHA lmortgages available???

DallasLoanGuy — Thu, 25 Jun 2009 22:36:57 GMT

@Anonymous wrote:

(quoted post deleted per request of solorider)

to clear up the issue

what will you be stirring up? they think you owe a bunch of student loans. if you dont, there should be a way to resolve.

it is not the govt that is incompetent.... it is the people working there. maybe you will get an intelligent person.

you can get this cleared up very shortly

Message Edited by haulingthescoreup on 06-25-2009 03:36 PM