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pre-qualified and then nothing??

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    pre-qualified and then nothing??

    Well, we were discharged from a 13 on Sept 2009. We were prequalified for a mortgage loan in october. We are now ready to buy and when we checked with two lenders (one which previously pre-qualified us), turns out, we can't proceed. The previous lender said that Experian is not reporting a credit score (I checked today and it is, it is something like 640 each for my husband and I). The one tiny problem is that technically our mortgage was not included in our bankruptcy, except for some stupid $23 of late payment or something. So it apparently shows as under the bankruptcy. We did however continue to make our mortgage payments ON TIME every month (even contributed more $ to the pricinpal since discharge).

    What can we do? Our current mortgage is with Wells Fargo. Can we go to them? I am afraid that the may end up denying us.

    Mind you, with the sale of our house, we would have $30k+ for a down payment.

    We also want to try for a VA loan, but I am not sure.

    We are also disputing a charge on my husband's credit that shows as late but was also included in the ch 13.

    If someone out there does pre-qualify us, what else could we ask them so that at the moment of truth (settlement date) the monies are there and they don't back out?

    We are bummed. Any ideas?

    Thank you.

    #2
    Sorry I meant to say preapproved not prequalified...

    Comment


      #3
      If I understand you correctly it seems that your current mortgage is reporting incorrectly. You need to fix the credit report is my guess.

      Have you called a broker for a loan? I used to be a loan officer and if you called me I would help fix the problem.

      Logan

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        #4
        Good luck to you. I just posted where we were just declined from Wells Fargo because our mortgage is with them and we filed 13 in 2005. We too continued to make all of our payments on time outside the plan.

        We have 20% down, and meet all FHA requirements - our credit scores are above where they need to be for FHA, and our debt to income ratio easily meets the guidelines as well.

        The reason WF is denying us is because we filed and included them...............Even though they never suffered one penny of loss as a result!!!!!!

        K
        You can't have your cake and eat it too. But you can dip your finger in the bowl and lick the icing

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          #5
          Originally posted by krielly View Post
          Good luck to you. I just posted where we were just declined from Wells Fargo because our mortgage is with them and we filed 13 in 2005. We too continued to make all of our payments on time outside the plan.

          We have 20% down, and meet all FHA requirements - our credit scores are above where they need to be for FHA, and our debt to income ratio easily meets the guidelines as well.

          The reason WF is denying us is because we filed and included them...............Even though they never suffered one penny of loss as a result!!!!!!

          K
          Who cares if Wells Fargo denied you. Go to someone else.

          Comment

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