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This was included in another message but I remain confused......I got this email from my LP the other day, I responded the same day...I'm confused if this is a conditional approval or just send us this stuff and then we will decide what we're gonna do with you. I emailed my LO but she isn't the best at responding....
Your home loan file has been through underwriting and I need more documentation from you.
4. What are 2 garnishments on co-borrowers pay stubs? One is my child support and one is the Chapter 13 payment
5. What is Venture CO child support debt on credit report? Is there a judgment filed? Back support being paid through the chapter 13, no judgment filed.
6. Need status of ACS/Dept of Ed student loan $36,605. Has this loan been paid? Yes and sent her print out from great lakes showing no balance.
So my LO called today to tell me they denied because my student loans were in default. My student loans have never ever been in default. I have no idea what she is talking about. But thanks for costing me $1500.00....
you've come to far to give up! I agree, I would get something from Great Lakes saying that they are not in default.
When we intitially applied I went to 2 banks, them and another one. After that call today, I immediately called the LO at the other bank and sent him everything I have and said, get started....he said 2-3 weeks for approval through full underwriting. We are asking the sellers for an extension until the end of December.
I had a bad feeling about the first company anyway. The LO never returned calls or emails.
I found the student loan in question. On my EQ report it says, "closed due to inactivity". I have no idea why but I have disputed the comment. Also on the national student loan database it says non-defaulted, paid in consolidation. Still doesn't say DEFAULTED anywhere. That's what you get for assuming.....
@Anonymous wrote:When we intitially applied I went to 2 banks, them and another one. After that call today, I immediately called the LO at the other bank and sent him everything I have and said, get started....he said 2-3 weeks for approval through full underwriting. We are asking the sellers for an extension until the end of December.
I had a bad feeling about the first company anyway. The LO never returned calls or emails.
I found the student loan in question. On my EQ report it says, "closed due to inactivity". I have no idea why but I have disputed the comment. Also on the national student loan database it says non-defaulted, paid in consolidation. Still doesn't say DEFAULTED anywhere. That's what you get for assuming.....
An unresponsive LO is never a good thing, so the denial may actually be a blessing in disguise.
Hope everything works out with the new lender. Keep us posted!
I would have them do a rapid rescore on you and throw it back to underwriting.
I would be pissed too that the LO didnt see this from the start.
Ok, we are now at lender #2 - so far I'm really impressed. I spent 2 1/2 hours going through every line on our credit reports, every line on our BK papers and every paper that the first lender transferred. I even left there with a list of more stuff she needed that didn't get transferred over.
I did find out that one student loan is reporting as defaulted (it's been paid since 2010)...I called Sallie Mae, I called Oklahoma Guaranty Student Loan people and no one knows why it's reporting that way because it never defaulted, it was paid through consolidation. Finally the Sallie Mae Consumer Advocate people are getting this fixed for me before the new lender pulls credit. WooHoo!
So now that the title work has been done, the appraisal, inspections and repairs have all been done, we are only waiting on the loan. I'm still really mad that the first people didn't tell me about the student loan - they only said I defaulted and when I said I never did it was like they didn't believe me or didn't care to take the time for it.
Hang in there!
@Anonymous wrote:Ok, we are now at lender #2 - so far I'm really impressed. I spent 2 1/2 hours going through every line on our credit reports, every line on our BK papers and every paper that the first lender transferred. I even left there with a list of more stuff she needed that didn't get transferred over.
I did find out that one student loan is reporting as defaulted (it's been paid since 2010)...I called Sallie Mae, I called Oklahoma Guaranty Student Loan people and no one knows why it's reporting that way because it never defaulted, it was paid through consolidation. Finally the Sallie Mae Consumer Advocate people are getting this fixed for me before the new lender pulls credit. WooHoo!
So now that the title work has been done, the appraisal, inspections and repairs have all been done, we are only waiting on the loan. I'm still really mad that the first people didn't tell me about the student loan - they only said I defaulted and when I said I never did it was like they didn't believe me or didn't care to take the time for it.
This is great news! Hang in there! You can get a letter from Sallie Mae indicating loan status and use that for your lender to do a rapid rescore.