oscaro

Hello, I used the online application for Patelco Credit Union to apply for a loan. I received the disclosure statements via pdf (including the GFE) from the loan consultant, but I was given a preapproval letter for a different type of loan than the one I applied for. The loan consultant left me a voicemail stating that I was not approved for the loan I requested, but he emailed the disclosure statements for the loan I applied for anyway. I subsequently sent two emails and a voicemail requesting a GFE for the loan I was approved for (FHA, 5.375 interest rate, 6.4 apr), but the consultant refuses to call me back. Also, the return receipt for my emails indicates he deleted my emails without reading them. Does this constitute fraudulent behavior? Don't I have a right to see a GFE that details the loan that I was approved for? Should I seek another source for FHA financing? Does the 6.4 apr sound high? Up until now, I have had a very good relationship with Patelco, but this is very disconcerting. Thanks for any input you can provide. FICOS: TU 767, EQ 757, EXP 760

I too am curious about this subject. How does REO affect the loan-to-value calculation?

So a bank such as Bank of America would not have any incentive to offer a strong mortgage candidate decent mortgage terms to purchase one of its properties, even though the bank would 1) Unload a house in its inventory, and 2) Pick up a qualified and nonsubprime mortgage?

Newbie house hunter here, and I wanted to ask the "experts" if with all of the inventory that banks now have (I'm in Northern California), would the banks be willing to give decent mortgage terms and approval to someone interested in buying one of its repossessed properties? Has anyone heard of this practice?

Did you get the account?

Please add me as a member.

I would like to do the same, and would like to receive the address used successfully. I would appreciate the address too. Thanks.

Just called the number and a very nice CSR named Jeff did an immediate CLI of $750, bringing my limit to $3500. He told me that Capital One reviews the account every six months and that I could call back in 6 months to see if there was another offer available. He said I got redirected to him because Capital One is trying to be very proactive in enhancing the credit for its current card holders. I'm a little surprised that it happened so quickly because my card is still operating under the initial no apr until August, 2008, and with no annual fee.