Underwriting joy (approved, credit, bank, lender)

[Momotaro]

So I am supposed to close on Friday and here I sit waiting on a verification of rent. Did not know if I would need it until this morning. Also I guess I have a collection from something back in 2000, they wanted a letter for that. Can that collection stop this from happening? I am going VA and have had a clean credit for last 24 months except for that collection. I think it went into collections in 03 but I paid in 05 however they never reported it as paid, and I have no proof since I did not think I would need it 5 yrs later.

[VictorBurek]

Very unlikely that old collection will cause you any problems.

[Momotaro]

Thats good to hear, so really the only thing standing in my way is rent verification. My lender requested through the CBC and put a rush but not heard anything. She then went to the landlord who stated they would fill paperwork out but he wont do it until late tonight. Finally I went and got the last 12 months of canceled checks from bank just in case they can not get verification and hope that works. I really wanna close Friday, we switched utilities to start there and got our help for moving already lined up.

This has me so anxious I feel sick to my stomach.
I appreciate your reply Victor

Phil

[VictorBurek]

You're welcome. If the only thing holding you up on closing is the verification of rent, i think you will have no problems closing Friday.

[briesmom]

Momotaro! I think you will be fine. They just probably need a letter in the file for the collection for a little "CYA." I am also finding that the canceled rent checks are not uncommon. I just provided mine in the beginning anyway. But then again, I am freakishly over organized and try to anticipate everything.... Good vibes coming your way!!!

[Momotaro]

Thanks Briesmom, but I feel a little of my blonde comming through, what is CYA?

[briesmom]

cover your a$$

[Momotaro]

ahhh haha, that is what I am hoping!

[Momotaro]

well its official, I am not closing tomorrow. I was just told now (why was I not told yesterday I am not sure) it takes 72hrs to get file to closing after UW has approved. UW has not looked at it since the conditions now have to wait until Wed the earliest.

[briesmom]

Hopefully, the UW will approve today and you can close on Wednesday. My appraisal FINALLY came in and UW has my file today....good grief. This is stressful....