Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

ARE YOU FREAKING KIDDING ME?

Posted by on Aug. 31, 2010 at 3:32 PM
  • 14 Replies

Okay so I have been working since last September to be able to buy a house. I took over the finances (hubby is no good with money) Paid off all our debts and got our credit score to where it needed to be in order to qualify for a first time homeowners loan. We found a house, made an offer, and set a date for closing. The seller's lawyer couldn't make that date so we had to reschedule. I had a c-section on a Monday and closing was that Friday ( I was game). In the time I was building our credit I opened a credit card and used it frequently always paying it down to 30% of the total limit each month. Right before I went in to the hospital, the payment came due for the card. I normally would have sent about $400.00 to them, but I was hoarding money for the closing and I figured our credit report was already run, we were pre-qualified......so I sent them $100.00 instead with the intention to completely pay it off after closing and not continue to use it. Well I had no idea they would run my credit one last time, and that my payment would loose the loan for me. UNBELIEVABLE! It dropped our credit score and we no longer qualified for the loan, two days before closing. Then I had to send the credit company money, and pay for a rapid re-score from a credit counselor to fix my score and qualify for the loan. I was told that would take 3-5 days.............that was well over a week ago. The seller is starting to get suspicious, my lawyer can't tell them that I lost the loan...............I can't take the stress. I wish I could just find out already, so I can either book the movers or move on. Someone cheer me up with their house closing nightmares. LOL

by on Aug. 31, 2010 at 3:32 PM
Add your quick reply below:
You must be a member to reply to this post.
Replies (1-10):
daughterofearth
by on Aug. 31, 2010 at 3:34 PM

uh....watch property virgins on hgtv.....BOOGA WOOGA!!!! **sticks tongue out and does funny dance** now breathe......ahhhh

NickiNavarro
by on Aug. 31, 2010 at 3:37 PM

LOL I wish I would have known that credit card payment would be detrimental to me getting the house. I obviously would have paid the full amount.

a_and_j_momma
by on Aug. 31, 2010 at 3:40 PM
How stressful. I'm sorry. I hope it all works out for you
Nyx7
by on Aug. 31, 2010 at 3:42 PM

Ha, I wish my hubby's credit would've been denied before he signed the mortgage on this house (happened before I met him). Never ever ever sell your soul to Saxon Mortgage to get a house, they actually try to collect!

gulfcoastmom4
by on Aug. 31, 2010 at 3:43 PM

sorry

Mommy2_two
by on Aug. 31, 2010 at 3:43 PM

Was the payment not even the minimum payment due? How could one lower payment affect your score enough to loose your loan? WOW!!!

NickiNavarro
by on Aug. 31, 2010 at 4:39 PM


Quoting Mommy2_two:

Was the payment not even the minimum payment due? How could one lower payment affect your score enough to loose your loan? WOW!!!


No the minimum is $15.00. It negatively effects your credit if your credit cards have more than 30% of the limit racked up. The card has a $700.00 limit and we had $500.00 on it. We had just the right score to get the loan and we don't have a lot of credit in general, so that one thing lowered our score and we lost the loan by ten points.

NickiNavarro
by on Aug. 31, 2010 at 4:52 PM

BUMP!

sweetsurprise13
by on Aug. 31, 2010 at 4:54 PM

BUMP!

MommySteph06
by Platinum Member on Aug. 31, 2010 at 4:57 PM

BUMP!

Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)