Re: UPDATE I don't have any experience with this, but can you get a notarized statement from the landlord stating that: He only accepts cash, you paid cash for X months, you were never late, blah blah? I hope I don't get laughed at, but this is the only thing I could think of. I wanted to add, if you don't want him to know your business, you could probably not tell him you are getting a mortgage, just that you need the letter for you files, etc...... Good luck.......
Re: UPDATE Rob I am sorry to say this but it sounds like the M.O. is trying to give you the SHAFT! Ask for a supervisor over the phone (not in person...it'll be to your disadvantage to tip them off to your next move) and ask for the owner of the company. Is it a big company? You are likely to get further, much faster, if it's a smaller company. Write that person or another exec a letter. State in clear terms in a short letter what you have went through to get the loan. If the company gave you false information and you paid $$$ out of your pocket to close (for inspections, etc.) then they have committed a violation of the law. Use this as leverage. Write the letter and send it CRRR to the ceo/prez/exec. Do that today if possible. On your own I would go to the websites and put those items in dispute. It will artificially raise your score, so if the mortgage company does a check within the next few days they will have a higher score. This should placate them. If it does not they either would request more money to close or ask for credit/employment references. How long have you been on your job? Two years and especially five years or more should be enough. The fact that you rented and paid cash should not be an issue. If you have positive tradelines and overall good credit + good employment they SHOULD approve you. If they drag their feet it is pure b*llsh*tt*ng on their part. Most likely the M.O. did not know what he was doing and they simply won't approve the loan. I hope this is not true. Lastly, I would make plans to find a place if the loan does not go through. DO NOT rely on what they are telling you. Have contingency plans!! Hope all goes well. Robert B
Re: UPDATE Unless the underwriter is having a bad day and wants to be an ass about it, the receipts from the landlord and a letter should suffice. If you want to be really thorough, get the landlord to write a letter stating that he only accepts cash or money orders. Good luck!
Re: UPDATE Thanks for the response, I was thinking about having the landlord write a letter. I can meet the other conditions easily, this is the only one that is giving me problems. I know of a lot of landlords who won't take checks, especially ones who rent apartments in multifamily houses so hopefully this will go through. Thanks
Re: UPDATE "A.Previous rental or mortgage payment history. The payment history of the borrower's housing obligations is of significant importance in evaluating credit. The lender must determine the borrower's payment history of the housing obligations through either the credit report, directly from the landlord or mortgage servicer, or through canceled checks covering the most recent 12-month period." -- HUD FHA guidelines, Directive 4155.1, Chapter 2 ( Mortgage Credit Analysis) Show that to them and request that the mortgage company to respond to it in writing.
