Prefer to talk in person? Find a mortgage specialist on Zillow
Profile picture for cardsarekev

what else can be said now

so we started the process about 3 months ago my wife was a 640 i was a 583, so was told what to  get off credit report. and did was a hospital bill and a old cell phone from 4 years ago they where paid off and my score jumped to 635 after both was taken off report was pre approved for our mortgage put our bid in on our house and today was told we where denined because the underwriter felt we just paid off the bills to get the mortgage. we where told by them to pay them off and if you look at the two credit reports that are about a month apart other than normal monthly payments on credit cards and car all we did was clear two negatives. what do we do now
  • June 29 2011 - Philadelphia
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (3)

Try another lender.  Based on what you stated, that is a judgment call by the underwriter.  Chances are you can find another lender with a different opinion.  You want your loan officer to bring out other factors in your financial profile that make you a strong candidate for loan approval.
  • June 30 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I would try using another lender. Also, get your denial in writing so you can see exactly their reasoning if you haven't already.
  • June 30 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

we where denined because the underwriter felt we just paid off the bills to get the mortgage 

Well... why else would you have done it?


There is probably another reason why you are being turned down and this is just a spin of the facts. 
  • June 29 2011
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.