bamtastic_xicano asked:


Both of my parents applied for an FHA Loan on a foreclosed property. The property was already inspected, appraised, and all of my parents credit and income has been verified by the Lender. The lender already approved the loan and all of the prior to doc conditions have been satisfied. However, almost two weeks later we still do not have loan docs. My agent has already had to extend the closing date 2 times and he is about to ask for another one.
According to the loan officer the FHA processor made a mistake on the loan case number and property address and because of that we have not gotten loan docs until they resolve that. My loan officer, agent, and underwriter have been on the phone with the FHA processor for this loan and all we get is “It should be taken care of today or by tomorrow morning” or “Its on my to do list for today.” Almost two weeks later after the lender approval and still no loan docs.
My parents and I are very concerned about having to ask for a third extension on the closing date and about what is going on, any advice on what we should do? Is there somewhere (FHA number) we can call ourselves to see whats going on? By the way, I asked my loan officer to ask FHA for proof of the mistake on their paperwork and they did sent a couple of documents with a couple of mistakes in the property address.

Pedro

rainbow asked:


How to finance a mortgage when you just get employed less than 1 month? I plan to buy a house for $85,000, with $20,000 down and just started working ($15/hour). I had no work history in the last 2 years, no W2 form in the past. I talked to one agent at Chase bank, he said I am not qualified for a loan, and I was in doubt. How could students just graduated, got a job to buy a house? Most graduated students do this right? My credit score is okay, 650 as I remembered the last time I checked

I was employed by my parents business, is this an issue? It is a legitimate business, and my parents paid for taxes every year. My parents are in business for 6 years now.

What are the proof the bank will need? Employment verification letter from the owner of the business?

Do you know any private loan is doing stated income loan?

Please advise

Thanks
I just checked my credit score and it is 770. I think it is good credit score

Marie