frenchy69 Posted November 1, 2024 Share Posted November 1, 2024 Hey everyone, It’s been a while since I last spoke with you all. How are you doing? I have some exciting news to share about my daughter. She and her husband found a house, and their bid was accepted! But here’s the catch: her husband was sued for $200,000 a while back. He had set up a payment plan, but apparently, they found out he’s making a lot of money. My daughter is really stressed out right now. She’s afraid that the loan won’t go through. Can they really turn down the loan at this point? Quote Link to comment Share on other sites More sharing options...
liverichly Posted November 1, 2024 Share Posted November 1, 2024 Hey frenchy, The payment will just be included in the debt-to-income (DTI) ratio to determine if he qualifies. So, it's not so much the fact that he got sued and lost that is the issue, it's that he has a monthly payment on that debt now. Do they qualify after factoring in the payment? They need to speak with their loan officer ASAP to determine that. Kat58 1 Quote Link to comment Share on other sites More sharing options...
frenchy69 Posted November 4, 2024 Author Share Posted November 4, 2024 So, is it just the payment that’s being questioned, or the total debt? He easily qualifies for the loan since he makes $25,000 a month. There’s no doubt about his qualifications. He’s just a bit worried that they might deny the loan since it was a last-minute request. Quote Link to comment Share on other sites More sharing options...
liverichly Posted November 4, 2024 Share Posted November 4, 2024 The only item that matters is the monthly payment amount. Quote Link to comment Share on other sites More sharing options...
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