Home Buying in Darby>Question Details

Help!!!! Ple…, Home Buyer in Darby, PA

Do I have a chance in closing by June 30th if I go to another lender now.?

Asked by Help!!!! Please, Darby, PA Wed May 12, 2010

I am a first time homebuyer using FHA, I had a repo on my credit. I went delinquent 2006 and the car was picked up in 2007. My current lender stated the underwriter new about this and I only had to write a letter of explination detailing that I had lost my job and couldn't afford to keep the car. Every other lender stated the repo would be an issue at closing and I would need to make a settlement. This lender wants me to make a payment arrangment. It's one thing after another with some of these request she has. For ex: the hot water tank is wrapped with insulation, she want a new tank. At this point I have an attorney working on a settlement offer. If I start the process now and settle this one debt, is it possible to close on this house in time for the June 30th date?

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BEST ANSWER
Hi , you should be just fine provided your lawyer and you execute.

Clearly you value the home you are buying to take the effort.
Provided you do what the lender asks you to do, you will be okay.

Remember even folks with stellar credit are being asked to jump
through the hoops.

Good luck.
Web Reference: http://www.ruthandperry.com
0 votes Thank Flag Link Wed May 12, 2010
Perry,

Thanks for the response. Time is running out, getting a little antsy about how long it will actually take to close.

Thanks for the vote of confidence..............it was needed from an objective party.
0 votes Thank Flag Link Fri May 14, 2010
Keep consulting with your attorney--as he/she is your best source of advice.
0 votes Thank Flag Link Wed May 12, 2010
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