Hello from Arizona, New member hopefully closing on first home at the end of May

[CopperHD]

I have been lurking here for about 6 months when i first started considering my first home.  This site has been such a wonderful resource and has helped me to not only better understand how credit works but also increase my credit score.  Here's a little about me, back in 2003 during the wild and free days of credit i was in college, i used and abused my credit and in the end found myself in a hole which i could not get out of.  

Around 2006 i finally decided that it was time to try and resolve my past debts and have worked to resolve them, even though i know they will stay on my report for a few more years i no longer have to worry about getting a call from them wanting money.  Two years ago i applied for and recieved my first "rebuilder"card through first premier and i know that no one likes them because of the fees and low limits but i had accepted that this was part of the pennace that i had to pay for my previous credit misdeeds.  

Since that first card i have now have about 6 cards (2 cap one $1250, $750, First national $1750, Orchard $450, Credit One $450, and First premier $250) and while i know that in the coming year after i get my house i am going to close some of them i am still proud of where i have gone in the last two years.  I am using FHA for my loan and have around 1% utilization on my cards (after the mistakes of the past i PIF), i am building my house and the completion date is 5/20 with a purchase price of $146,000.  It has been a long and strange ride which hopefuly will end keys in my hand.  Everything always hinges on the funding and i know that as long as i keep everything in the bubble that it has been in for the last six months i will hopefully be good to go.  

I also have a question for those few of you who have read this far, i have a realtor but have not really heard anything from them in the last month of construction, as i get closer to my close date and my lender starts gathering information like appriasial and everything else can i expect the realtor to run interference for me or do they just hang out because as of late i have been dealing directly with the LO and the builder, i just feel like the realtor should be the one in charge telling me what i need to do and where i need to go.  Sorry if it is a stupid question but this is my first foray into housing.

[JM-AM]

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@CopperHD wrote:

I have been lurking here for about 6 months when i first started considering my first home.  This site has been such a wonderful resource and has helped me to not only better understand how credit works but also increase my credit score.  Here's a little about me, back in 2003 during the wild and free days of credit i was in college, i used and abused my credit and in the end found myself in a hole which i could not get out of.  

Around 2006 i finally decided that it was time to try and resolve my past debts and have worked to resolve them, even though i know they will stay on my report for a few more years i no longer have to worry about getting a call from them wanting money.  Two years ago i applied for and recieved my first "rebuilder"card through first premier and i know that no one likes them because of the fees and low limits but i had accepted that this was part of the pennace that i had to pay for my previous credit misdeeds.  

Since that first card i have now have about 6 cards (2 cap one $1250, $750, First national $1750, Orchard $450, Credit One $450, and First premier $250) and while i know that in the coming year after i get my house i am going to close some of them i am still proud of where i have gone in the last two years.  I am using FHA for my loan and have around 1% utilization on my cards (after the mistakes of the past i PIF), i am building my house and the completion date is 5/20 with a purchase price of $146,000.  It has been a long and strange ride which hopefuly will end keys in my hand.  Everything always hinges on the funding and i know that as long as i keep everything in the bubble that it has been in for the last six months i will hopefully be good to go.  

I also have a question for those few of you who have read this far, i have a realtor but have not really heard anything from them in the last month of construction, as i get closer to my close date and my lender starts gathering information like appriasial and everything else can i expect the realtor to run interference for me or do they just hang out because as of late i have been dealing directly with the LO and the builder, i just feel like the realtor should be the one in charge telling me what i need to do and where i need to go.  Sorry if it is a stupid question but this is my first foray into housing.

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Your realtor is going to get paid for there services. They will get a commission off the sale once you close the loan. 

Is the realtor affiliated with the builder?

Is the LO affiliated with the builder and or the realtor?

If there is an affiliation between them then they usually all work hand in hand on getting you approved and letting you know what needs to be done, so no reason to get upset or worry that the realtor isn't involved.

If there is no affiliation between the realtor and the builder or LO then I would contact them and have them either handle there job or find and use another realtor who will do there job.

Just my 3 cents but I would not want to pay some one for services that are not provided.

Wish you luck with your new home and congrats.

[CopperHD]

Thank you, none of them, the LO, the builder, or the realtor are assoicated in any way.  

[webhopper]

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@CopperHD wrote:

Thank you, none of them, the LO, the builder, or the realtor are assoicated in any way.  

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I kept my realtor in the loop as far as financing was concerned... she helped me keep my contract straight with the sellers, we had to do 3 or 4 extensions...  The LO wouldn't talk to anyone else but me about my loan especially when the sellers started calling him crying. The sellers cried and called and left crying voice mails on my LO's cell because their realtor shared the phone number. My sellers were very emotional, their realtor was very frustrated, my LO was very incompetent and ended up getting fired, as well as his boss, my fiance was the rock during the whole process, he kept me from going insane. My realtor was also very professional and remained calm throughout the storm. and kept me feeling motivated and positive. She ran interference for me between the sellers and the sellers agent.  I never had to deal with the crying, thank goodness. I don't know if I could have dealt with that.  My dad was a sweetheart, and paid my CC down to almost nothing, since the incompetent LOs and banks I had been dealing with pulled my score like 15 times and made it drop from a starting score of 697 to right around 663, without the balance paid. I paid him back in March with my bonus from work... Just an absolute nightmare all the way around

[CopperHD]

I have been trying my best to keep everyone in contact with everyone else in order to ensure that things go as smoothly as possible.  I have already dealt with my share of crazy sellers which was one reason i decided to build, they are much more professional and seem to be on the ball when it comes to what will be done.