77 days later and buyer's were just denied financing
Some of you may have read my posts here
https://www.biggerpockets.com/forums/311/topics/35...
and
https://www.biggerpockets.com/forums/311/topics/36...
Thought I'd let you all know that today, 77 days past the day we signed a contract with the buyer's, underwriting came back and said the buyer's were denied financing. They claim that the male buyer hasn't been at his job long enough and he isn't a stable buyer. The man has been at his job 8 months and in the same industry for a long time. His previous company closed down and he even went and took a picture of the outside of the building to prove it was closed! Underwriting kept telling the loan officer if they did x, y, and z we would get a clear to close and even a few days ago said it would be coming any day now. Then today, denied.
Thoughts? Solutions?
Most Popular Reply
Many lenders will not lend to you if you havnt been at the same job for 2 years.
Part of the roll of your agent is to screen the offers. What makes up the strongest offer often is the highest offer, but the ability to close. A preapproval letter from a strong lender with a reputation for closing deals is one of the most important aspects to an offer package.
- Russell Brazil
- [email protected]
- (301) 893-4635
- Podcast Guest on Show #192
