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We put in an offer on a home two weeks ago and it had an contingency that we got our pre approval. The home is a short sale with a medical lien we have to pay at closing. We were working with a mortgage lender and decided to change before we ever put the offer in just because we didn't know them and got a personal reference for another one. After about three weeks and 70+ hours of giving all of my personal information/life history we were told that they would not give us a loan because we had paid rent late one month In the past 12 months. We have done everything from written exclamation for bankruptcy that was over two years ago and have no credit other than my student loans. We paid off the one credit card that we had And then one day before we were supposed to have our preapproval to the sellers bank they said no. So after cooling down from the situation I contacted our original mortgage lender to ask if this Really is a dealbreaker for getting a mortgage or if it was just their company. He said no that if we paid as agreed meaning we had contacted our landlord and it mutually agreed to pay at a different date it was still paid as agreed and they would accept a letter stating this. This is not a problem to do our landlord is happy to help. Now they're requesting a credit supplement of two of our recent utility bills wanting something that has been paid every single month for two years straight on time. This seems like a crazy request to me not that we are bad with our finances but there have been times when we are a day or two late just because we forget or it's a weekend or something. We've never had a utility turned off and never been more than a few days to maybe a week late at top and even that is on rare occasions. I advised them of this and gave him the two recent bills they are now doing this credit supplement and said they would let us know in a few days I am really worried do you guys think this will be a dealbreaker for us?? Could anyone explain to me what they do for a credit supplement of utility bills??
I sold my home as a short sale in October 2010 and the mortgage was originally with Wilmington Trust/Dovenmuehle. I walked away from settlement owing nothing (so I thought) and when I checked my credit report in January 2011 it was reported as "Settlement Accepted;Paid in Full/less than full balance" Balance Due=0, Account Status= Paid In 2011 M&T Bank purchased Wilmington Trust. I didn't have any accounts with them so I received no notification other than what I heard or saw on the news. So imagine my surprise when I checked my report yesterday to discover that M&T reopened the account March 2011, showing a past due amount of $10,311 and that account had been placed in collections and closed in December 2011. It's still showing an amount due of $10,311 despite the account being closed. My questions are: a) how can they do this without contacting me via phone, mail, etc? are they not required to let me know that I have a $10k account in collections? c) is there any way to fix it/get it off my CR?