Quote:
Originally Posted by bossku69
If there was ever an event in my life that went smoothly, I would be shocked!
I've been in the process of trying to buy a house now for the past two months, and this mortgage brokerage has done everything they can possibly do WRONG... and then some. This is probably the most frustrating thing I have ever been through in my entire life to the point I wish I would of never even begin looking at a house.
The last and final blow was on Friday evening when I got word that I would be unable to get an FHA loan because of a denial. Why?? Because some dumb ass processor "accidentally" submitted the wrong tax transcripts to the lending bank and was denied because of negative income. What had happened was using TurboTax for my 2009 return, it somehow created a schedule A and C... you only need 1, not both. Long story short, after they were filed, I found the error a couple of days later, hired an accountant and he fixed the taxes; amended return was filed, everything was all good... at least I thought 
Remember this? I'm freaking the fuck out! 
Anyway now I am in a really tough spot. Conventional loans are pretty much out of the question because I do not have 20% to put down and my DTI is to high. My apartment lease is up at the end of the month and things are not looking good for this house... so I need to gamble on signing a new lease at a new place or pray the loan goes through.
In any case, if anyone has an extra $240k laying around and wants to make a 5% return on a 12 month investment hit me up. Thats more any any bank will pay and I will guarantee it... or you can have my girlfriend 
I have some collateral to put up in the form of my SEM business plus you get the deed to the house and a hug from me... which by itself is worth at least a few million |
jesus christ dude when will you ever learn. What you are asking for here (if you are even remotely serious) is just going to lead to several more problems for you.
Your DTI ratio is too high, you don't have 10% to put down on a house muchless 20% (<- which is how much you should have). then you simply can't afford to buy a house right now. Go sign a year lease and rent. save yourself headaches.
The reason you are having problems is because 1. you can't afford to do what you are trying to do, 2. you never plan this shit out ahead and instead you jump into stuff with out any guidence from other people. You postings here are like someone who just got hit by a train cross the railroad tracts and you asking us what you should do now. If you would have posted sooner, people could have advised you to not try to cross railroad tracks while the arm was down, lights flashing and the train was coming.
People that wonder "why does nothing ever go smooth for me" need to really sit down and figure out why... the answer is because of the way they handle things not because they just have incredibly bad luck. Bad luck might happen once, maybe twice but beyond that it isn't luck, its a pattarn and there is a problem that needs to be fixed.