Helllppp!!!

[Awesomemom]

What is the name of your state? CA


Hello there!
We were about ready to close the loan and then they said, oh well, we looked at everything again and you are 239 a month short of qualifying...I was like, you already preapproved me!!!!! Needless to say I am beyond upset! We made an offer, signed a contract and all that stuff...I am so mad!!!! She said, you need a co-signer who makes only 500 a month, you can refinance at anytime in your own name there is no prepayment penalty and this loan allows for a non occupant co-borrower...

We need to close by the 23rd or else we start paying 100 daily for everyday it's not closed .....I am beyond stressed!!!! They called my realtor yesterday and said that if we don't get the co-signer they are canceling the contract! I told him, they should've done a more thorough approval process before telling me that stuff! I would've NEVER made an offer and gotten into a contract if I knew that from the beginning...I just don't do business like that...I want all ducks in a row!!!! I just never do business like this...

Is there anything that can be done? I have been scrambling around to try to find a cosigner with good credit willing to do it...

 

[dmiller12]

You could get a 2nd opinon from another mortgage company. If you get all the same documents you provided to the other lender (paystubs, W2s, bank statements etc...)together including a copy of the loan application and be prepared to meet with another reputable lender tomorrow, it's possible you could get it done. It's a long shot but possible.

It sounds like you're doing FHA financing and some lenders will stretch the guidelines more then others.


Unfortunately the lender has not vialoted the law. They've only tarnished their reputation with all involved.