Can an evil landlord kill a FHA deal?

Anonymous · ‎05-09-2008

I am currently in the proccessing stage of my FHA loan. Everything seems to be going great so far. I am worried that my landlord may try to kill my deal. A couple years ago I got behind on my rent due to unemployment. Eventually I caught it up. Between then and now I paid a little late here and now andhe allowed that if I paid the late charges. Now I informed him that I am in the process of moving to a new home. He said that he thought we were going to purchase the home we are currently in. He seemed kind of P'ssd off. I am not sure what kind of report he will give the processor if he is contacted, but I am guessing it will not be pleasant. Will this kill my deal? (So close)

msensa · ‎05-09-2008

I hope you have good proof of your timely payments, and a good explanation. My broker flinched and had me write a LOE for a rent check not clearing in the same month in which it was written. And let's not forget about the VOR--has yours filled one out?

I'm a tree hugging, peace loving, non-patchouli wearing new kind of hippie chick trying to find a comfortable balance in this consumer-driven world. I just wish I didn't have to care about credit.

DallasLoanGuy · ‎05-09-2008

Verification of rent may not be required.

Retired Lender

Anonymous · ‎05-09-2008

DallasLoanGuy wrote:
Verification of rent may not be required.

Even if they requested his information when I first filled out the paperwork?

DallasLoanGuy · ‎05-09-2008

MisseyElliott wrote:

DallasLoanGuy wrote:
Verification of rent may not be required.

Even if they requested his information when I first filled out the paperwork?

Depends. They may have overlooked the automated underwriting findings where it says "VOR not required"

Were you approved thru automated? or is this a manual underwrite?

Retired Lender

Anonymous · ‎05-09-2008

DallasLoanGuy wrote:

MisseyElliott wrote:

DallasLoanGuy wrote:
Verification of rent may not be required.

Even if they requested his information when I first filled out the paperwork?

Depends. They may have overlooked the automated underwriting findings where it says "VOR not required"

Were you approved thru automated? or is this a manual underwrite?

automated How does this make a difference?

Message Edited by MisseyElliott on 05-09-2008 03:17 PM

DallasLoanGuy · ‎05-09-2008

Automated underwriting sometimes says "No rent verification needed"

It will HAVE TO be verified in a manual underwrite.

Retired Lender