Need help after lender changed the score requirements

Credit and mortgage advice Forums Home Mortgage Need help after lender changed the score requirements

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 5 months ago.



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    Anonymous

    Hello everyone. I need some clarification of FHA. I signed a contract with a homebuilder to begin building a home this past spring. All old credit has been*cleaned up and all credit cards have been paid to zero. When I started this process I was told that my score had to get to 620(middle). I have one collection account that I paid in January 2011 that was not updated as being paid. I finally got a letter from this collection co stating the bill is paid*and my mortgage company is asking for a rescore. My currnet scores are EQ-629,TU-630, EX-636. My mortgage and sales agent*informed me that the score now needs to be 640. Sales person said they knew this*and if they thought*the financing*would have been a problem they would have contacted me.* I guess I need some advice, I was due to close in mid August and now I feel that me and my children could be homeless if the*middle score does not reach 640. My landlord already has tenants to move in September 1st.

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    Any suggestions would be helpful.

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