U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 03-22-2009, 06:35 PM
 
23 posts, read 80,764 times
Reputation: 15

Advertisements

Any info would be great! We are trying to purchase a house and were set to close this week when our lender found that I am on the CAIVRS list. Unfortunately, I had let my student loan default...so I contacted the financial group dealing with this, accepted a payoff and paid it off this past Thursday. The financial group said it would take 2-3 days to clear and to call them on Monday to get the Dept of Ed number and it will be up to them when it comes off the CAIVRS list. Anybody have any experience with this or how long I will remain on CAIVRS? Thanks
Rate this post positively Reply With Quote Quick reply to this message

 
Old 03-23-2009, 06:07 PM
 
392 posts, read 1,452,349 times
Reputation: 134
CAIVRS is a system that lenders are required to check whenever a client is going with a government loan (FHA or VA). The government can keep it on there as long as they'd like or until you satisfy the defaulted loan. conventional doesn not check CAIVRS
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-24-2009, 02:28 PM
 
6 posts, read 29,107 times
Reputation: 12
Default Help

I also have something on my CAIVRS, but I don't know what and neither does my lender.
How can I find out what is holding me up??
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-26-2009, 10:46 AM
 
Location: anywhere
1,730 posts, read 4,260,681 times
Reputation: 1860
Quote:
Originally Posted by needinfo123 View Post
I also have something on my CAIVRS, but I don't know what and neither does my lender.
How can I find out what is holding me up??

It's pretty simple for your lender to find out. When they pulled your Caivrs online and it showed you do not Caivr there will be a phone number to call and a case number along with other info to reference. Tell them to simply enter your soc again and print out the findings from the FHA connection. I have only had two people not CAIVR in the last 17 years and both were for student loan defaults and both were cleared up pretty easily. Good luck!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-02-2009, 04:53 PM
 
1 posts, read 23,136 times
Reputation: 10
Default CAIVRS / student loans

From US Dept of Ed web site: Repaying Student Loans Held by the U.S. Department of Education (http://www.ed.gov/offices/OSFAP/DCS/repaying.html - broken link)

"I'm applying for a HUD (FHA) or VA loan and I don't qualify because of my defaulted student loan."[LIST][*]Your options for reinstating your eligibility to receive a HUD (FHA) or VA loan are: repay or satisfy the loan in full; consolidate your loan through the Federal Family Education Loan [URL="http://www.ed.gov/offices/OSFAP/DCS/consolidation.html"](FFEL) loan consolidation program[/URL] or the [URL="http://loanconsolidation.ed.gov/"]William D. Ford Direct Loan Program [/URL](Direct Loan Program); or rehabilitate your loan through our [URL="http://www.ed.gov/offices/OSFAP/DCS/rehabilitation.html"]loan rehabilitation program[/URL]. Since defaulted student loans have no statute of limitations for enforceability, you would remain ineligible to receive a HUD or VA loan until you complete one of the options mentioned above.[/LIST]Good luck.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-08-2009, 03:57 PM
 
1 posts, read 22,202 times
Reputation: 11
Hi, My mortgage processor pulled a cleared CAIVRS, but there is a note that states: Case Warning: Borrower(s) have CAIVRS alert and/or mortgage credit sanction. My CAIVRS recently cleared after the 3 year waiting period, so we should be good to go, but she does not know why that note appears. Any ideas?

Last edited by Green Irish Eyes; 10-08-2009 at 04:43 PM.. Reason: Not sure what the link was supposed to be, but it doesn't work.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-25-2010, 03:17 PM
 
1 posts, read 21,655 times
Reputation: 10
hi we are trying to close on our home but we cant until hud removes caivrs it shows it was removed but the underwirters wont let us close until someone from hud fax over a clear to close proving it off has anyone else ever dealt with this who did you contact through hud please help
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-25-2010, 03:24 PM
 
Location: anywhere
1,730 posts, read 4,260,681 times
Reputation: 1860
Quote:
Originally Posted by honorman View Post
hi we are trying to close on our home but we cant until hud removes caivrs it shows it was removed but the underwirters wont let us close until someone from hud fax over a clear to close proving it off has anyone else ever dealt with this who did you contact through hud please help
On the Caivr's printout it shows a phone number to contact for your case. Ask your lender to send it to you so you can contact them.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-23-2010, 02:51 PM
 
3 posts, read 26,622 times
Reputation: 10
At what point is CAIVRS pulled? We have been approved through desktop underwriter gave our broker all the paperwork this weekend. How would I/could I find out if I am on CAIVRS? What sort of things are on that? This whole process is so scary.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-23-2010, 07:27 PM
 
Location: MID ATLANTIC
8,140 posts, read 19,989,830 times
Reputation: 9382
Everywhere I have worked, CAiVRS is pulled immediately upon loan appplication. But, not everyone pulls it first.

As a prior poster stated, there is an 800 # on the alert. A simple telephone call will provide all the information needed.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top