- May 24, 2012 at 10:22 pm #250642Raymon RobertMember
My husband and myself were approved for a VA mortgage loan through Navy Federal Bank. Our credit is good. Being as our income is only 30k a year, we were given the loan under the condition that we pay off our truck, which had a balance of 18k. We did that. Speaking with our VA loan officer, I told her that I needed 110% guarantee, that if we paid off the truck, the loan was a go. She assured us it was, and that the only thing we needed to do was fill out all the paperwork correctly, and send it in. We did that too.
Today, we get a call from our loan officer, saying that since the house we were buying is over 2300 square feet, that we would also have to pay off the used car that we bought for our sons graduation gift. 5k. I was completely shocked and dissapointed. My questionis this.. do we have any rights here, as we were guaranteed the loan under that ONE condition, which we fulfilled? We had saved up 20k throughout the years, for our house that we want after my husband retired. We used it to pay the truck off and now they want us to pay the truck off after the guarantee. We can do that, but this just doesn’t seem right at all. Please fill me in on what are rights are here.
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