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i was approved for an fha loan and was to pay 3% down on my house. im suppose to be moving in two weeks (closing on the 23rd) my bank just called today and said the last appraisal people denied my loan b/c of deliquencies on payments. all my credit cards are paid off, in fact it was just a menards card! i have a great job and make great money! IS THERE ANYTHING ELSE I CAN DO TO GET THIS HOUSE??? PLEASE HELP! im having a baby and suppose to be moving in 2 weeks and now this!
i dont have another mortgage. i dont understand why they approved me and now they are denying me.
WHO IS THE UNDERWRITER?

3 Thoughts on set back with FHA loan~please help!!!?
  1. Reply
    candi h
    February 14, 2014 at 1:47 am

    first I understand that you are worried but relax and try to calm down. Is there anyway you could possibly call the bank back and ask or see what you can do to get this loan to go through? For example ask them if it would be better to close the accounts down and have proof faxed guaranteeing the accounts are closed and you will not be using them. (you can open up again if within 6 months). This way they do not have to worry about you becoming late or delinquent again …if you ever were in the past. If you were late and delinquent in the past then it could be that the financing just could not get approved because the reporting of delinquency is still relatively new.

  2. Reply
    Biggie @ Arbor Mortgage
    February 14, 2014 at 2:02 am

    They are giving you the round around if they are telling you the appraisal people denied your loan, because they have nothing to do with an approval from an FHA loan, it would be the underwriter. I would like to take a look @ your situation if you live in Michigan, Indiana or Minnestota. If your lates are on a current mortgage, then it will be tough. Did your lender have you write a letter explaining that all has been paid & reaons for lates etc?

    Another factor may be that your credit score dropped. Find out what it is!

  3. Reply
    just a thought
    February 14, 2014 at 2:30 am

    You need to call your bank back wright down your questions before you call them. 1st off the underwriters are the ones that will deny your loan. You need to know what delinquencies are showing on your credit. Ask for a copy of your credit report. If you are working with a Realtor call them ASAP They will know what steps to take.

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