MyLegacy

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About MyLegacy

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    PA
  1. 10th post! I will call around and see what I can find out. Will post more info as I find out! Thanks again for all your help!
  2. We have a local Wells Fargo, which I have seen mentioned regarding USDA. Suggestions much appreciated!
  3. I will call our credit union tomorrow and set up an appointment to have the loan evaluation. I just added DH as an AU on my cc. Hope it helps his fico.
  4. Thanks everyone, I really appreciate your input. As for the parents and sister, there has been no communication with them in 4 years. The mother has "disowned" him. It is really sad, but DH has been so much better since he is away from the negativity. The mother has caused many problems for several family members... very sad. I plan to call USDA next week. Figured it would be futile to call during the holiday week. I also plan to meet with our credit union this coming week for their "loan health checkup". The USDA has 2 offices in PA, one in Harrisburg (all the way across the state) and my regional one is Lebanon, which is 2 counties away from me. I am located in Chester County, PA. If anyone knows of a realtor with USDA experience in my local area, please let me know. Can't P.M. yet, haven't hit 10 posts yet... I have just added my DH as an AU on my cc... Hope that may help with this score, it sure has helped me. Best wishes, hope everyone enjoyed a happy and safe holiday!
  5. I have read on another post to get a real estate agent. I don't know any, have never used one. Please provide tips to find one with USDA experience, and what should I know or ask?
  6. TomnTex, Thank you for sharing. I think the reason this is so confusing for me is, I hear of situations like yours that are successful (which gives me hope) and then others tell me don't bother, it's impossible... I am also curious to know how sellers feel/react when they have to deal with a buyer using USDA. I would think they would be like "why in the heck would I want to wait so long for someone to get approval/funding? I want to sell my house, so find me someone that won't take so long!"
  7. 1stStep, you brought up things I never thought of. Thank you! Credit = I have one sec cc (800 avail) keep at 5-10% utilization. We have no other current debt except rent/living expenses. Vehicles are finally paid off (almost 2 yrs ago). The unpaid collections are all 4 years old, and the redeemed repo was just over 2 years ago - prior to him securing employment. When his name was added to the deed: Parents owned house and cabin in mtns. (No mortgage on either) He lived with parents in house most of adult life and used to 50/50 share expenses until dad retired at 55yrs. DH then started covering all exp because they couldn't. Sister was to get cabin, him the house. Cabin was due to sheriff for delinquent taxes. The sister paid back taxes, parents transferred to her. While at the lawyers for the transfer, they also added his name to deed for house. Brother/sister don't get along, was done so they didn't fight about it. 3 years later, DH loses job, goes from income of 45k to unemployment to 25k. He couldn't afford all expenses on his own, and mother got mad that he couldn't support them anymore. They fought constantly, he finally moved in with a friend. Hasn't lived in house for 4 years now. 2 years ago, his parents tried to sue him for unpaid property taxes, but it was dismissed by the judge. His attorney advised him to not sign off - if house goes for sheriff (taxes), then he would get half of whatever is left, or they could buy him out, or he would be sole owner when they die. This is the reason he cannot file BR...not that I want him to. For some dumb reason their lawyer added DH as half owner, and his parents as half owner... instead of thirds for each... DH attorney verified that with courthouse. Judgements? Don't know if they will happen. Total is 13k, right around 4k on each. Sold to CA's heard nothing from OC since sold. Our landlord has also offered to right a letter of reference stating we have paid on exact due date for 3 years. Don't know if that means anything.
  8. SOL here in PA is 7 years. Credit scores are separate, we plan to marry in Jan. If that would hurt the loan then it can be postponed until after we get a loan. (Easily changed, only going to the JP since we have both been married before.) We've been together for 7 years...
  9. I understand that regarding conventional loans you need to put more down the worse your credit is, if you get a loan at all. The USDA has different rules. They used to not have a required minimum fico, then it went to 620, and now I am hearing 640. I have been told that you can have bad accounts as long as it is paid in full, and you have on-times for the last 12 months.
  10. Do we stand a chance or are we wasting our time? Our income would allow us to apply for a home USDA direct or guaranteed. House we want - also qualifies for USDA, on market 10/2011 for 154k, is now down to 113k. For sale to settle estate. Mom's bf knows owner, she just wants to unload it and is considering auction in the spring. Bad credit - DH has 3 co's not paid from 4 years ago. (2 cc's, 1 4wheeler.) It started when he lost job, missed 2 payments then they all jumped across the board. The balances at first delinquency were 6k total, and is now up to 13k. Can't file BR because his name is on parents deed (was done 10 years ago so he inherits). He also had a redeemed repo 2 years ago but vehicle was then paid monthly until payoff. This all happened while on unemployment. DH has 2 solid years of employment with solid global company. His myfico is 621. My CU fico is 652. We rent for $1000, so obviously the house would save us a lot. My question is this: Should we apply now? Does it look better if we make pay-arrang with the CA's for the co's NOW, or should we apply and let them tell us what they require of us? My mom has offered to give us $ to get rid of the baddies. What can we do to avoid a denied loan? Thanks everyone. Appreciate your time!