Asked by Daisy, Alamo Farmsteads, San Antonio, TX • Thu Apr 11, 2013
We recently entered a buying contract and had a closing date set at the end of the month. We went directly to Chase for our mortgage loan. Two weeks ago we were told that because I was not working last year and has been in my new position for less than 6 months, they cannot use my income. I told them I worked before and last year I was not working because of our new born. They said the underwriter will re-evaluate my situation and escalated the case. But still, no results in two weeks. The closing date is still two weeks away but I am very anxious. We are paying down 40% , and the appraisal value is in line with our purchase price. We both have 770 credit score.
What is the chance that we will be denied? Why it takes so long!
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