patrick.net

My loan was recently denied by two lenders. My credit is 689, I have 2 fully paid homes (one of them is a rental), I've been with the same employer for 8+ years, I have no debt, make 6 figures, and I have 20% to put down for a 500K home. The first lender denied my loan because of lending overlays. I had to do a short sale two years ago due to a divorce. This lender requires at least 4 to 7 years even though I met Fannie Mae's lending guidelines. The second lender did not have any lending overlays but still denied my loan due to the fact that I short sold the house on my own, not with my ex-spouse, after the divorce. Well F$%#^ them! I will wait for the home prices to come down and buy them in cash.

Not yet, but I will keep you posted. Preapproval letters are still easy. Closing a loan... another issue entirely. I'm a humble first time home buyer who is being diligent, so I have yet to pull the trigger on purchaste a home... in the event I ever do, then we'll tell how easy or difficult it is to close a loan... but on the face of it, qualifying is a simple matter... most recent two pay stubs and verbal assurance of a "good credit score" is all I needed – but a preapproval is MUCH different than closing on a piece of real estate.

APOCALYPSEFUCK is Tony Manero says

There's nothing more thrilling to a sex-crazed 15-year old than having sex on the altar of a burning church.

Despite finding that comment offensive…wasn’t that a scene from a Madonna video back in the 80’s?

EastCoastBubbleBoy says

wasn’t that a scene from a Madonna video back in the 80’s?

I don't know, but it sure sounds like it could have been a Madonna video from the 80's. ;-)