Asked by Ellie_grzesik, Utica, NY • Sun Sep 4, 2011
We were called a week ago saying that we would be closing this week. Our bags and boxes were packed and we were anxious to move in before my daughter started kindergarten. The bank says everything is going great and real smooth and not to worry. We turn in all our paperwork asap and we had the committment letter too.
The underwriter's boss won't let us get an FHA mortgage because he doesn't have enough credit history from the past 2 years. He lived with his parents and paid cash for his phone, his car, and rent (to his parents), and he wrote a letter stating why he didn't have proof of those things paid. He didn't have student loans because he paid with cash but for the past 8 months he paid off a 1000 dollar ring (payments larger than asked and on time) and he has a $500 limit on a credit card and we use and pay off every month on time more than asked for.
We can't get a loan without a co-signer and we can't find one.... Do we change banks? What do we do? Need to move ASAP!
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