I going through the mortgage process "VERY STRESSFUL" Im at the point where im pre-approved With a loan officer at my Credit Union, Signed Purchase offer (08/20/14) and paid for an FHA appraiser. All looks good P
Cost of the house: $145,000 (Non FHA Appraised $220,000) Estimated mortgage payment $870.00
Income: $7250 a month
Total bills: $860
Okay my main concern is my student loans (12) are in default... Too make a long story short I have been in a Rehabilition progam with the Department of Education (DOE) for 1 year and 1 month making a total of 12 payment in good standing never missing a payment. Everyday since July 2014 (my 9th payment) I have been calling DOE on the status of my rehab and when its going to be picked up by a new servicer; the answer I get "is any day" its now 10/28/14... I have talked to thier regional office and the onsbud group with no success.. " only stating its a computerized sweep and out of there controll" one good thing is, I am not listed on the CAIVRS datebase.
My main questions are:
If im not Listed on CAIVRS will I be approved?
If not, will something in writing from DOE that I'm in the program in great standing for 12 months suffice me getting approved?