snowpuppy

The first pre-approval I got was Rocket Mortgage and they said their underwriters would also require a letter from my employer. I gotta say their service was top notch but the interest rate and fees are steep. I'm now trying a local lender from my hometown because they have much better terms but they are conservative. And I'm being kind.

That sums it up pretty well. Lenders are saying they won't consider the home "owner occupied" unless I have a letter saying I have physically transfered to an office near my hometown. Even if I have a virtual telework position. Nothing shady on my part at all. I just want to be closer to family, home prices are manageable and crime is low there.

I'm looking at homes in my former hometown which is out of state, about 8hrs away. I had pre-approvals from 2 mortgage lenders but both want a letter from my employer saying I'm transfering to a local office of my employer. My job is telework with 1 day a week in office if needed. There is an office 45 minutes away from my old neighborhood but my current office in flyover country will never let me transfer there. I've tried for years. My position can't be filled if I transfer out. My goal was simple, relocate and buy, keeping my mortgage payment the same as rent and retire. If I retire first, I won't have the income to buy. Tell me I'm not doomed to be here forever.😪

Success! I made my final payment on 12/1 and submitted my application for forgiveness 12/4. It took PHEAA nearly 30 days to update all payments correctly and probably 3-4 phonecalls to them of WTF? One thing nobody has ever said is PHEAA then forwards your loan package to FSA at the Dept of Ed for final approval of forgiveness. You'll get an email telling you to expect a 60 day period for final review by FSA. I logged into PHEAA's portal today and balance is $0. Marked PAID IN FULL-SPECIAL REPAYMENT PLAN. 🤗

I don't feel sorry for a dude with a PhD who doesn't read the rules. For anyone in PSLF, read the rules. Then re-read what you just read. It's not rocket science. Are there shady servicers? Yes. They make money off your payments. While I had my share of issues with PHEAA, my prior servicer was far worse and is now defunct. I'm in my last couple of payments. Been a hard fought battle but oh, so worth it.

So I haven't needed to be here in ages but need a quick question answered on PSLF. I'm in my final payments of PSLF. Have been diligent all the way. Question is, from the time you submitted your PSLF Forgiveness request until the time PHEAA actually issued the forgiveness, how long did it take? Weeks? Months? I would like to leave my kwappy job that qualifies me but can't until PSLF is done.

People do this every day. Appeal disability and look for work they can do. Average time to get a hearing is climbing with a backlog of 1.3M cases it's now taking 18 months in most states.

Up for my annual recertification for PSLF thru PHEAA. Got it done early thru IRS website. Hear nothing. I send an email, no response. Send a second email, no response. I call, reluctantly and am told they have 2 billing cycles to figure out my ICR payment. Research the regs, not true. New payment is to be calculated 35 days before due date in April. Not done. I call back, new CSR says, oh, your 12 mos are not up. Will be up in April. Again, not true. I ask for a supervisor. Well, yes we are behind. Why? No answer. Got a processing time? No answer. Got a number for Corporate? Oh, no. I don't know how to contact corporate. Got a Congressional Liasion? Oh, no, I don't of any. I'm not going ino forebearance. I'm 6+ years into PSLF with less than 4 to go. I now smell a rat. Anyone with recent experience?

OMG, that is such great news and a great holiday present! I'm sure they'll take their time sending a refund check or vacating a judgement.

Selfish bump. Has anyone heard from Midland yet? Either a refund check or a Motion to Vacate a Judgement? I have a family member who falls in the prescribed time period. TIA

The underwriter for my lender was asking for a document sent to them directly from my student loan servicer (PHEAA) that said what alternative payment plan I was under. They can see the balance of your student loans on your credit reports. If the 1% doesn't match the payment, they'll know you have an alternative payment plan So in essence, I could keep my IBR payment, but still use the 1% for the payment calculation (via a letter from the loan servicer or something)? I don't mind using the 1% for the calculation, but I don't want my payment to go up to the 1% if I can avoid it. Your student loan payment is calculated by your servicer (PHEAA, Great Lakes, etc) based on your income and household size. Your payment must be re-evaluated every year by your servicer. So if you can qualify for a mortgage with the 1% figure, then no, your student loan payment will not change until you must again re-apply when your 12 months is up.

The underwriter for my lender was asking for a document sent to them directly from my student loan servicer (PHEAA) that said what alternative payment plan I was under. They can see the balance of your student loans on your credit reports. If the 1% doesn't match the payment, they'll know you have an alternative payment plan

I talked with my local RD manager here this morning. She told me their guidelines have been in place since December to use either 1% or the "fixed" payment. I'm in ICR, not IBR and doing Public Service forgiveness. I'm 5+ years in with less than 5 to go. So wondering if I'm screwed as well? ETA: Looks like I am. I just called my USDA State office here in MI, yes it is 1% of the loan balance or your "fixed" payment for say 20 yr term, etc. ICR, 5 years into Public Service Loan Forgiveness, etc. Doesn't matter. Gotta find another way.............

Thanks for the additional thoughts! The upside for DS is that he can breathe for awhile longer with no payments hanging over his head. I understand the "put the money in the bank" but it doesn't earn interest no matter where you put it. His thought was this would be a way to drive something with 0 payments for an additional 24 mos while he stashes some cash.

I think he's a good candidate for the low mileage lease. Only drives about 10k in miles a year and he's not hard on a vehicle. 4WD is a must here in MI. He's sort of OCD with his bills and I think this is a good option for him. TY Marv, as always!