Deborah Arace

Good Luck and I hope all works out for you both. Stay on top of this and ask questions if it does not make sence. - Wed Sep 3 2008, 09:36

Not necessary, it depends on the mortgage company. Please, do yourself a favor and contact another mortgage company and speak with your realtor. I would "assume" that they do not want to loose this closing as much as you do not want to lose this home. As long as you have not change careers. Granted, the fact that neither of you have been employed at your current jobs a long period of time, is hurtful but, not impossible. - Tue Sep 2 2008, 11:50

I would speak with your realtor and see if they work with another mortgage company, (ie: one that they specifically use) or go to TN.gov and research mortgage brokers in your area. Without knowing the mortgage company you used, that there was some serious miscommunications. Again, you need to speak with your realtor and his/her broker to see if this can be resolved. I have used Mortgage Investors Group a number of times. They are based in Knoxville and throughout East TN. 866-651-6235 Have you looked into a THDA Loan or a Rural Loan? Thay are both income based. - Mon Sep 1 2008, 16:23

I agree with Julia. I have used MIG a number of times and they are great. They specialize in the THDA's loans. Give them a call. 866-651-6235. Good Luck. - Mon Sep 1 2008, 16:28

Welcome to Sweetwater. I am a resident of Sweetwater and I am a realtor in Sweetwater, Century 21 Howe Realty & Auction, I am also a sub. teacher for the Sweetwater City School system. I would love to help you find a home here in Sweetwater. I also have contact with some investors who have rental's in our area, if you are going that route. Contact me at any time. Deborah Arace, Century 21 Howe Realty & Auction. 423-337-9355 - Thu May 22 2008, 17:30

I feel your pain and fraustation. I have been in your place and know it all to well. My advice to you, as Ken stated, get in touch with a mortgage professional. I recommend contacting Tandy Shuler with Mtg. Investors Group out of Lenoir City. She works wonders and will tell it to you straight forward. She got my clients into a home last Oct. with short notice and shaky credit and the husband was only at his job for 3 months. She will also explain the THDA programs to you. The best advice I can give you, is to get your credit report from the 3 top credit companies and see what is keeping your score down. Most lenders would like to see 620, but a 518 is not impossible. The one issue you stated that could be holding lender's back is that you have no money up front as a downpayment or for closing cost. Lender's like to see something in the bank, at least 3.5% to 5% of your price range ($125,000. x 3.5% = $4375.00). If you have had any type of bankruptcy, you need to be either 2 years discharge of a Chapter 7 and either 1-2 years (not sure on this one) of pmts on a Chapter 13. Lender's like to see consecutive pmts on any type of debt you owe and at least 2 years consecutive employment. I am sure this has been explained to you, but, it took me awhile to fix my own credit to the point that I could purchase my home. (3 years) But, I have the American dream of my own home and I believe you will too. Contact Tandy, she will help you. And, when the time comes, I would be more than happy to help you with your home search in the near future. (Positive thinking for you). Thank you for your time and consideration, Deborah Arace, Century 21 Howe Realty & Auction, Sweetwater TN. - Thu May 22 2008, 17:15

I love Maryville!! It has the feel of small town living with all the shopping and dining you can get. There schools are some of the best in the area. Our market is steady and it is a "buyers" market and the interest rates are at there lowest. Your price range gives you a wide varity of homes to search for. Please feel free to contact me and I would love to email some listing for the Blount Cty area or answer any questions. Thank you for time and consideration. Deborah Arace, Century 21 Howe Realty & Auction. njglivingintn@yahoo.com - Mon May 19 2008, 18:51