Will there be a problem getting my loan?
I have excellent credit and was pre-approved for a home loan. I bounced 3 checks last month, which I have never done before and was due to a lack of communication with my husband about what day I get paid at my new job. Anyway, I have to submit my bank statements to the mortgage lender this week. Will this cause a problem? Thanks!
It can be an issue but they are usually willing to work with you. Good luck.
I’m so annoyed!!! Sick of being in debt and my husband isn’t helping the situation!! Advice please?
This is getting to be a continual source of anxiety for me, complete with shot nerves, shaking hands, upset stomach (daily) constant worry. I work full time and my whole paycheck goes towards our fixed expenses (mortgage, utilities, minimum payments) and his paycheck (which is less than half of mine) goes towards food and gas. Anything left over goes towards paying off our debt, which is about $13000. This has been generated over 3 years of marriage where my husband didn’t make enough money to pay for our food and gas so we relied on credit cards to get us by. Well now that we make enough to eat, I said, no more credit cards, because he was starting to use them to get lunch every day instead of brown bagging it, buying sodas, snacks, little things here and there that he decided he wanted. So he agreed to not use the credit card for anyhting except emergencies. Well here I go to check the credit card statement and he has still been using them even though he agreed not to. So I gave him $40 cash (which is all I had) so he could get sodas, snacks, whatever he wanted, while, I go without such things…and took the credit cards away. Well he has since spent that cash and is asking for more, I told him there is no more, he needs to make more money if he wants more. And he has been giving me the silent treatment since. I am tired of being treated like the enemy – he is 40 years old and acts like such a child sometimes. He is so lazy it drives me insane. So many times I have asked him to get a second job or try to pick up more hours and it falls on deaf ears. Sick of it. Don’t want a divorce. How to make him see my point of view???
Been there – done that.
My wife could NOT stop spending money! She could not stop! I finally came to realize that she has a spending addiction! Your husband could be in the same boat.
In spending money (even $2 for coffee), he exhibits a sense of POWER in his life. As he spends money, he sees himself as WORTHY. This does not have to be hundreds and thousands of dollars. It’s the sheer act of giving money away that gives him a sense of superiority.
You said it in your post. He acts like a child………. That’s right! He does not have a MATURE identity of his own gender. He desires to BE the PROVIDER in his masculinity. Even though he’s not making enough to provide, the act of SPENDING gives him the “thrill” he lacks in his own mind. He still is a little child not being able to take full RESPONSIBILITY for his childish behavior!
It’s not about money. It’s about his inability to take responsibility for his own behavior surrounding money! Don’t argue money. Argue RESPONSIBILITY!
P.s. – when we got over $750,000 in debt, I finally pushed the envelope for divorce. I could not stop her spending. I don’t even know where she is now.
Divorce advice to divorce my adulterous lying husband?
I have recently decided to divorce my husband of 2 years following 2 years of lies and deceipt. I am not on the mortgage so have filed an HC1 form (I have a 6 year old of which he is the stepfather but he has no responsibility for him). I am employed full time (£1750 net per month) and pay no childcare costs, whilst he is a joint company director of his small LTD security company. He also has preserved final salary pensions. Our property is at the moment at ‘break even’ with little or no equity. I put to my husband that I would be prepared to walk away with no rights to the house, his pensions or to his LTD company on the basis that he repaid me £25,000. (I leant him £25,000 nearly 2 years ago of which he was going to pay me back at the time, but has never given me a penny. He now says that he can’t raise the money (he has tried a small business loan and borrowing from parents), and that he is going to stay in our house regardless. He has now proposed to repay £500 per month from his business, however, due to my new rental predicted outgoings and debt I cannot afford to accept this. he has also said that if I persue him for any monies that he will declare himself bankrupt (he, as do I have other debts that he has raised over the years), and I will not receive a penny. I have proof of various adulterous websites that he has registered on, and bank statements/copy cheques that he has fraudulent stolen and used forging my signature from my personal bank account. Please can you tell me my rights, and the way I should proceed. Help! Thank you
Don’t listen to us about rights, we may get it wrong. You must go and see a solicitor or citizens advice bureau. It’s worth it to not make a huge mistake!
Question about mortgage brokers?
Other than giving my mortgage broker my SSN and information about my bank statements, what else can he find out about my financial history? Can he call my bank and find out how much I have in my checking and savings accounts?
He can’t call and get that information. Because of your right to privacy the banks are not allowed to give that information to a 3rd party over the phone. He CAN and WILL likely require you to provide current and previous bank statements.
You can provide them that information. Banks legally cannot.
And don’t forget that with the social security number comes a very thorough credit check.
Mortgage experts: Do people who give gifts toward closing costs HAVE to also supply bank statements to lender?
I’m being told by my loan officer that FHA requires bank statements of ANYBODY who gives me money toward closing costs. I have always been advised that a gift letter was required, or even a canceled check. I can live with these things. But bank statements of anybody who gives me money…even for Christmas?? That seems a bit ridiculous and invasive.
Please help me out because I am about $1000 short for my closing costs and I REALLY do not want my parents or siblings to have to all provide bank statements to my lender! Is this lender too harsh, or is this the times we live in? My FICO is 701
That doesn’t make any sense to me, but FHA is very different than anyone else. Ask your loan officer to see where in the policy/contract it says that.
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