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Getting qualified for a mortage loan then "cleaning up"
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Posted by Amanda
(64.154.26.250) on May 15, 2002 at 15:11:12:
We live in Houston,TX and we were pre-approved for a loan of $140,00 for a home, however we were told to clean up a few things. I did that and three have been either deleted or marked paid off. We found a house, called the mortage company and they said something else popped up (which I knew would). It has been set up with the collection agency to be paid in full by June 6th. The home sellers have to close on June 30th. We put down $1,000 earnest money but did not sign a contract yet. We just applied for a loan through them as well while waiting to compare etc. We have to know something quick or they will sell. Does anyone know anything about getting a letter from the one item still sitting on our report to say it has been paid? Will a mortage company accept that? Also, do you think they will accept that the other debt "will be" paid off and how can we prove that?
They can always give us the OK for the loan and then change their mind in the end if they had to right? What would keep them from giving us the loan? I appreciate any help you can give.
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