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will the $6500.00 tax credit go into effect?

My wife owns a 1971 trailor that we rent out to my dad for 400 a month.  we have a average beacon score of 730 for each of us.  our credit cards have a 10.00 balance and we signed for a house that the mortage co said we could get then underwriting kicked us out and now we're about 4,000 short from the 10% down payment.I have been disabled since 2005. and 1 kid is a freshman at Clemson with no loans.  all cars are paid for.  what can we do?
  • November 01 2009 - Easley
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Answers (2)

Profile picture for jonny o
the house is owned by citi bank and i haven't heard if they even give us til 11-20-09 due to the trouble of getting financed.  but finally got it at 5% but have to put down $9000.  $6500 sure would help. but at $100 a day from the 13th is about $1900 we would be spending to get it put off til the 1st.
  • November 06 2009
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Talk to the agents involved. Would the seller consider a short-term second loan for the $4K? Would that solution be acceptable to the lender? Given your situation, ask the lender for the exact reasons underwriting rejected the loan, as it may be due to income or the fact that as a disabled person you may not be working. It is very difficult to get a loan these days so you need the complete reasons so you can either appeal or find another solution.
  • November 02 2009
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