Weird reason for denial

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This topic contains 7 replies, has 2 voices, and was last updated by  Anonymous 6 years, 10 months ago.

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  • #423341


    my husband and i recently bought a house six months after being discharged from bankruptcy and had horrible credit scores. we had a 100% loan and also worked with the seller and we only had to pay $ 150 in closing costs. i believe that help is out there for everyone, you just have to look for it.

  • #423342


    Live with somebody else until you’ve saved up enough cash to buy the place outright. You’ll cut your longterm costs in half, or better, because you won’t have any loan interest to repay. I don’t know why you seem to think that going into debt is a “good” thing.

  • #423343


    Yes, you can secure that dream home with your co-borrower, your loan officer have to be able to structure the loan with both of your information together, and work with a lender that can do a no-ratio program. With your co-borrower’s high fico score, along with your low score, often times if the loan officer have a great relationship with a specialty lender, they can work together and come up with a solution that would fit your budget. Now keep in mind that certain lenders would average the two fico scores and figure out which programs suites your needs. It can be done, with a lot of creativity. Good luck.

  • #423344


    What you state is fine. If you go stated income, you can take care of the high DTI ratio. However, if you have any brothers, sisters, step-mom, step-brothers and sisters, make sure the property will be yours or your childrens if he or you were to die.


  • #423345


    Contact me and I will take excellent care of you. I am in the Mortgage Industry and will work with you one on one to get you into that home! Don’t wait, timing is everything. Hope to hear from you.


  • #202169


    So I’ve had my eye on the Barnes and Noble MC*(Barclay)*for quite some time now. I decided to app today and got a strange reason for denial,


    -Sufficient credit is available on your account issued by Barclay Bank Delaware


    In evaluating your application, the consumer reporting agency listed below provided us with information that in whole or in part influenced our decision. The reporting agency played no part in our decision other than providing us with credit information about you, and is unable to supply specific reasons why we have denied credit to you. Under the Fair Credit Reporting Act, you have a right to know the information provided to us. It can be obtained by contacting: NO BUREAU, NO ADDRESS, NO CITY, XX**000000, 555-555-5555.

    Anyone ever get a denial letter like this before?

  • #423346


    JenK- if I may ask, how/where did you get a mortgage loan so quickly? My husband and I filed bankruptcy almost two years ago and are desperately trying to get a home loan. Any advice would be appreciated. Thanks!

  • #423347


    need help with getting a new home.

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