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Our file was just sent to the underwriter yesterday. I'm going nuts just thinking about it. My lender said it would be around Tuesday next week before we find something out. What are some deal breakers? What do underwriters like to see? Would like to hear some experiences...
Did your loan officer run your application thru automated underwriting? If yes, then as long as the information you provided such as income, assets, etc.. is accurate you should be approved.
Not sure, I think...he said something about running it through "Fannie Mae" and it rejected us because of a bankruptcy back in 2005 - that's why he sent it through manual underwriting.
We bought our first home in 2008...just had to write some LOE for the bankruptcy and we got approved. The only negative thing we received since our last home purchase was medical collections that wasn't even our fault. The insurance company kept giving us the run around saying they were going to pay them and before I knew it, I had collection notices in the mail! We gave up on the insurance company, AND also trying to fight it with the collection agencies and we just ended up paying all the collections back in March.
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