If you know in the region of the mortgage lend process please aid!?
I AM SOOO FRUSTRATED! We were SO CLOSE for our underwriter to sign off on our loan... They asked the IRS for my husband's 2007 and 2008 levy transcripts. standard procedure, i know. Well, the frickin IRS misfiled his 2007 return, and it never even got processed!! So no transcript was available, adjectives they had was copies of the stuff i sent it. They said they necessitate to redirect it to the proper department, and it will take 6-8 weeks to process. WTF. Our second extension expires Dec. 4, and I importantly doubt the sellers will extend again. Do you think the underwriter (through Bank of America) will adopt what they do have? At least it will show the IRS does enjoy our info, we did file, and his income for 2007.. What do you think? Am i screwed?
Answers:
Who know - mortgage lenders are really weird these days - devout luck!
I don't think this was the IRS's mistake.
If your husband have a refund on his 2007 tax return, he slipshod to notice that he never got it.
If your husband owed on on his 2007 levy return and sent in the return with a check, the IRS would eventually reminded him that he have a credit and needed to file.
I doubt your husband mailed by certified e-mail and has proof he filed something surrounded by April of 2008.
Yikes! I am a mortgage investor and I've never had that happen since. If you have compensating factors approaching good credit, good LTV, extra assets, etc. next you may be able to get an underwrite exception to close without the IRS transcripts. If not, you are screwed as it will be in the IRS's hand to fix their screwup.
Good Luck!
I would suggest you consider asking for an extension. The only reason the dealer won't go for it is if they have another buyer interested surrounded by their house. You might be able to get this info from the RE agent.
I think you are screwed. From what I hear B of A is pretty darn tight. They are too big to fail & to big to tender exceptions! I just find a different lender, problem solved close in possibly 2 weeks. Source(s): http://www.1stclassmortgageservice.com
the sellers have no choice probably. It is not resembling they have a line of buyers waiting to receive offers. they will be disappointed but they will likely not start adjectives over and put house back on market
ask underwriters of the W-2's are sufficient to move forward. ask underwriter what option are.
Related Questions:
If my mortgage interest salaried is more consequently my every twelve months income will I bring a discount on slice of my mortgage interest?
I am filing single this year because of a divorce. My ex husband said I can have the mortgage interest credit. It is $8600. I simply made about $2000 this...
Answers:
Who know - mortgage lenders are really weird these days - devout luck!
I don't think this was the IRS's mistake.
If your husband have a refund on his 2007 tax return, he slipshod to notice that he never got it.
If your husband owed on on his 2007 levy return and sent in the return with a check, the IRS would eventually reminded him that he have a credit and needed to file.
I doubt your husband mailed by certified e-mail and has proof he filed something surrounded by April of 2008.
Yikes! I am a mortgage investor and I've never had that happen since. If you have compensating factors approaching good credit, good LTV, extra assets, etc. next you may be able to get an underwrite exception to close without the IRS transcripts. If not, you are screwed as it will be in the IRS's hand to fix their screwup.
Good Luck!
I would suggest you consider asking for an extension. The only reason the dealer won't go for it is if they have another buyer interested surrounded by their house. You might be able to get this info from the RE agent.
I think you are screwed. From what I hear B of A is pretty darn tight. They are too big to fail & to big to tender exceptions! I just find a different lender, problem solved close in possibly 2 weeks. Source(s): http://www.1stclassmortgageservice.com
the sellers have no choice probably. It is not resembling they have a line of buyers waiting to receive offers. they will be disappointed but they will likely not start adjectives over and put house back on market
ask underwriters of the W-2's are sufficient to move forward. ask underwriter what option are.
Related Questions:
If my mortgage interest salaried is more consequently my every twelve months income will I bring a discount on slice of my mortgage interest?
I am filing single this year because of a divorce. My ex husband said I can have the mortgage interest credit. It is $8600. I simply made about $2000 this...