My question is, Upon receiving a letter of rejection from the mortgage bank is it a done deal for me.
(Details and rant Below)
I'm in the process of buying a home through FHA. The inspection went okay, I gave my broker all necessary documents, the seller is making minor repairs to the home. I actually have an appraiser coming out this Tuesday and I was suppose to close on the 17th of July.
Then I get one of the worse news of my life and I'm just now receiving the letter from Huntington saying I had derogatory items on my credit report, Proportion of balances to credit to high on bank revolving or other revolving accounts and other things all from Trans union.
It's Sunday so everything is closed, I have to move out of my rental shortly no option to stay where I'm different issue I'm so stressed.
I do plan on working on my credit its not the best and I recently had Prime lending do a Hard Pull which bought my score down 10 Pts after she said she wouldn't have to do a hard pull.
PS: I'm just now getting this mail because I changed my mailing address to my sisters house knowing that I was going to be moving soon. So I didn't want any mail coming at my current resident. Yall know it take awhile for mail to stop coming to your old address and I'm having issues with my landlord already.
Added (1). I've cried so many times today. I've spent so much money on inspectors and I have to pay my broker for the appraiser fee for a house I can't even get SMH. I wish these people denied me before I spent money on inspections etc.sigh
Read more: Huntington bank rejected my mortgage loan application. Does this mean I lost my home! I was so close to closing
