Sigh....

mekiakoo · March 2012

I am so through with this house buying process. I need positive thoughts, please!

We were supposed to close today. We excitedly heard from the underwriting yesterday, but they requested that we provide them with 12 months worth of cancelled checks to prove that FI has been paying his credit card bill. FI pays in full each month, not a problem, right??

The problem is we closed our previous checking accounts in December and opened up a new one together. We do not have access to FI's previous checking account to get the cancelled checks. We only have checks from January 2012.

I'm terrified that this will mean we'll be declined

I've contacted the bank and requested that they fax over the information needed to the underwriting, but I have no idea if they're able to do that.

Please tell me they probably can do this.

I can't believe that this is the only thing holding us back.

What's even worse is I have today and tomorrow off (conferences)- I'm going to be sitting around, obsessively checking my e-mail.

LADY324 · March 2012

That is really weird to me. Why do they need proof that he was paying his bills? That would show up on his credit report if he was late. We do online bill pay for everything!! You guys should look into that in the future. What if he provides his credit card statement instead which will show that he has been paying. He can access his account online and print them all out.

I am sorry it is very stressful the closing process. We were faxing things to underwriting the day of our closing and didn't find out until the morning of that we were closing that day.

Good luck I hope that it all works out.

Nancy00714 · March 2012

Can you show your bank statements that will show this same information?

Good luck!

mekiakoo · March 2012

Exactly- his credit report shows no late payments at all. His credit score is stunning too.

They just want to know that FI has been the one who has been paying the bill, not somebody else. I don't get it.

FI started doing the bill pay last month. So technically we were only able to send them a cancelled check from January. We don't have one for Februrary & March because it was paid for online. I am so confused

We sent them 12 months worth of CC statements and they said no. We only have bank statements from November 2011 til now, nothing before that because we closed his account in December. They want copies of the CHECKS.

ceglare4 · March 2012

That sounds like the dumbest thing ever. I know very little about buying a house but it sounds like they are making you jump through hoops. I would be irate if this kept you from buying the house, I'm hoping it works out for you guys. I'm frustrated for you just thinking about it! And maybe this is just my good faith in people but I can't imagine that the bank wouldn't send underwriting the information that they need. I don't see the point in not helping you guys out.

xobride · March 2012

Do you still have your bank statements from then? There should be little copies of the checks at the end of each of those, at least that's what my banks have always done. What a pain!

[Deleted User] · March 2012

It is completely stupid that they won't accept the CC statements saying that it was paid off. Is there a reason they need cancelled checks? If this is what people want to buy a house, FI and I are screwed because we pay bills online.

littlemoments324 · March 2012

It seems silly!!! I am fiesty today sooo....they are awipes....$$

LADY324 · March 2012

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-club-boards_july-2012-weddings_sigh?plckFindPostKey=Cat:Wedding Club BoardsForum:066005ef-215f-48b1-8655-328b41e07c52Discussion:85d43587-2214-4e70-bf90-fea01ff814d5Post:616d7e4e-62e1-4dd2-a0fe-d5ee71aa5fe1">Re: Sigh....</a>:
[QUOTE]Exactly- his credit report shows no late payments at all. His credit score is stunning too. They just want to know that FI has been the one who has been paying the bill , not somebody else. I don't get it. FI started doing the bill pay last month. So technically we were only able to send them a cancelled check from January. We don't have one for Februrary & March because it was paid for online. I am so confused :( We sent them 12 months worth of CC statements and they said no. We only have bank statements from November 2011 til now, nothing before that because we closed his account in December. They want copies of the CHECKS.
Posted by mekiakoo[/QUOTE]

His old bank should still have a record of the cancelled checks. I would go to the old bank in person and sit down with someone they have to have copies.

bridetobe71412 · March 2012

I'm so sorry it's so frustrating. This sounds like a horrible process! And I really, truly do not understand the purpose of requesting these cancelled checks. That sounds stupid. (I know that's not very helpful, but it really does sound ridiculous.)

I know you've contacted the bank, but maybe could you stop into a branch (or your fiance stop into a branch, since you're in conferences) and explain to them the situation? Bring someone with you to interpret? I always feel like I get better service when I go in to see people in person.

mekiakoo · March 2012

Well I contacted the same representative from the bank who worked with us back in December when we closed our accounts & opened up the new one.

He said it was not a problem- he's going to gather the information the underwriting needs. Including the months FI paid for the bill online.

Apparently they need to know if it was FI who has been paying the bill, not somebody else. Huh?

JenJen: the representative told me that we can get information through bill pay history under the payees, so you should still be fine. Our problem is we closed the old checking account with all of FI's payment information (it was before he started paying bills online).

janeneo · March 2012

I may be cynical, but I wonder if it's because you guys are young, and they think someone else is paying your bills. When I bought my house it was just me, and the guy kept asking me if my Dad had given me my downpayment even though he had 3 years of my checking and savings accounts to see that I had saved myself.

mekiakoo · March 2012

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-club-boards_july-2012-weddings_sigh?plckFindPostKey=Cat:Wedding Club BoardsForum:066005ef-215f-48b1-8655-328b41e07c52Discussion:85d43587-2214-4e70-bf90-fea01ff814d5Post:639f26f0-4193-488c-8320-ae0572d0ea6a">Re: Sigh....</a>:
[QUOTE]I may be cynical, but I wonder if it's because you guys are young, and they think someone else is paying your bills. When I bought my house it was just me, and the guy kept asking me if my Dad had given me my downpayment even though he had 3 years of my checking and savings accounts to see that I had saved myself.
Posted by janeneo[/QUOTE]

That could be the reason. FI is 26 and I'm 25. I guess we're still young.

Another thing they're bringing up is that I'm still in the probationary period at my school. Minnesota teachers are put on probation for the first 3 years of teaching before offering a tenure. I'm in my second year and they think it could be an issue. I'm so frustrated now.

This is just a statue in Minnesota- every teacher has to be on probation and if they happen to move out of the state during the 3 year probation and then come back, they'll have to be placed on it again. If a teacher moves out of a district, they'll be placed on an one year probation even if they've been teaching for 12 years. It's just the norm around here. I really hope it doesn't affect our ability to get a loan.

I feel like giving up and walking away. Live in an apartment for the rest of my life. I'm still hanging on though.

Madisonpenny · March 2012

I have never heard of this before.. I agree with PP it would show on his credit report if he hasn't been paying any bills. And age has nothing to do with it. I was 24 and FI was 27 when we bought our house.

Sigh....

Re: Sigh....

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