All Forum Posts by: Pearlita Gaskin

@Eliott Elias thank you!

@David M. There weren’t any specific contingencies other than the generic closing costs responsibility and appraisal. The seller haven’t yet given us a reason why the financing fell through and what the next step is on their part.

Closing is in a week. If they have to look for other financing options, I feel there needs to be some sort of favorable mediation due my time constraints. I want to be able to weigh out all my options. If finding a temporary place to stay is my only option, I will then have to determine whether I want to back out and look for something else that would take less work updating or close on the property and charge them rent until they find another home. I don’t know what other options are out there.

So I am in the process of buying a house in Iowa. The seller agreed to my offer and is also looking for a new house to move their big family into while I’m under contract with their current house.

For whatever reason, their financing fell through on the new house the seller is pursuing, which means that I may have to move out my closing date to accommodate the sellers closing on their new house. But I do not want to move my closing date as I have plans prior to moving in that I need to do. I’m staying in a rental and I want to fix up the house before my lease ends in July.

Should I just continue to close regardless of their lending dilemma or negotiate a way to make this work out in my favor? I was thinking about asking for a discount to the purchase price in some way. And possibly renting out the house back to them until they can buy their new house like they wanted.

Shaun Weekes Ok, I'll keep that in mind! Thanks a lot!

Shaun Weekes Mines specifically is for a $18k private student loan that was finally "CHARGED OFF" in May 2016. Right now I have lawyers currently working on the loan but for the mean time, I just hope it doesn't greatly affect me in my pursuit of a loan.

Would it be a waste of time looking for a bank loan if you have 30, 60, 90 day delinquency that is now "CHARGED OFF" even with a good credit scores and high income? Any advice on lenders or banks who would overlook that especially in Florida?

I have been shopping around for HELOCs or refinance loans and Bank of America wanted to know if I have any other open loan applications so they can send them a cancellation letter of some sort. Are they asking because they want to know who the competitions are, to make sure I'm not wasting their time or is this a standard obligation when you proceed into the underwriting process? I would like to keep my other open applications open in the event BOA does not approve my loan. What's your take?