Swolf Posted April 6, 2007 Report Share Posted April 6, 2007 I went to my lender and she told me I had to pay my arrears in order to get financing. So I called and they told me it was for arrears {time between son's birth and the time the support was set up} and then that the amount was 2770.00. Which I could afford to pay. then I call them back to days later and stated they told me it was another 1600 in past due amount and that any payments would be applied to that before the stuff is on my credit report. Which really hurts to come up with. My question is, is this common practice in the industry?Thanks in AdvanceShawn Link to comment Share on other sites More sharing options...
amortgageman Posted April 7, 2007 Report Share Posted April 7, 2007 Uhmmmm, yeah. You cannot get a conforming loan, FHA, VA, etc. Many of the subprime lenders will not approve the loan either. Link to comment Share on other sites More sharing options...
Guest BadAccountant Posted April 25, 2007 Report Share Posted April 25, 2007 I think you are talking about, is it normal for the State not to acurately know how much you owe in child support, and in AZ the answer is definitely, YES. I don't know what the problem is but they seem unable to basic fund accounting and get the balance correct when I call. I am approved on a VA loan and within days of closing with about 3K in arrears, but I am paying them as part of my court ordered monthly payments. May be a different situation, but I thought it might be helpful. Link to comment Share on other sites More sharing options...
amortgageman Posted April 26, 2007 Report Share Posted April 26, 2007 I am approved on a VA loan and within days of closing with about 3K in arrears, but I am paying them as part of my court ordered monthly payments. May be a different situation, but I thought it might be helpful.VA underwriting guidelines acknowledge your payments as an attempt to clear the debt. FHA would be the same.As long as a payment plan is in place, they will accept that arrangements have been made to extinguish the debt, and you have been attempting to pay the debt. That is the key.Congratulations BA. Link to comment Share on other sites More sharing options...
firstsource Posted April 27, 2007 Report Share Posted April 27, 2007 Hi Shawn,A suggestion would be to have them send you the account information in writing and what they would accept as a monthly repayment plan. It sounds like no one is certain about how much you actually owe. A friend of mine has a saying "if it wasn't written it wasn't said". Sounds to me like you could send them the 4300 and they may say, we need more now...Charles Link to comment Share on other sites More sharing options...
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