Asked by Jenna, Olathe, KS • Tue Mar 13, 2012
We finally found a home with great potential, in a great neighborhood! Enough space for our small family of four, with a low enough list price that we wouldn't have to worry about losing money in today's market- the only downside was that it was a short sale. We're using a VA loan, and have somewhat of a rocky credit history, but we were approved regardless- our score was good enough to buy a home! After months of waiting on the seller's bank to approve, we've now had to re-pull credit and financial information. Our credit score has fallen two points below the minimum! Two points! We're now at a 638, and we need a 640. Our lender has told us not to renew our contract for the home, and that we're no longer approved for a home at all. Our agent is looking into finding other lenders, but it doesn't look great, especially since we got this news on the day our contract expires.. What can we do? I'm afraid the home will sell as soon as it's back on the market... We need a solution! Thank you
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