Tuesday, January 16, 2018

Accidently opened up a line of credit during mortgage underwriting, Will this mess my chances of a loan up?

I was making a purchase off eBay using PayPal while multi tasking and a pop up that looked like a verification screen appeared (name, address, dob, last 4 of ss) and after clicking through everything, I got another pop up congratulating me on my new line of credit. I should have paid more attention but live and learn I guess. I communicated with my loan officer the situation and cancelled the line of credit immediately. She told me to get a copy of cancellation and write a note to the underwriter. I had all this done before the end of business hours, same day. Does this sound like it will cause an issue? Before the mishap I was awaiting final sign off from underwriter after she approved me contingent on a letter of explanation for a deposit which I happily provided.

Read more: https://allmortgage.net/forum/accidently-opened-up-a-line-of-credit-during-mortgage.html