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Help with underwriting

Posted on: 16th Feb, 2012 08:08 am
My home is being refinanced. It appraised with 20% equity, I have a credit score in the low 800's, low debt to income and high enough income. I have a full kitchen upstairs and everything but a stove downstairs, so the mortgage company wanted to make sure this wasn't a rental of the upstairs and downstairs. The stove was originally downstairs and they forced me to move it upstairs, even though it was more convenient for us downstairs.

I don't know why any of that should matter, but regardless I do live there. I'm starting to get irritated with the hoops they are making me jump through, what's a reasonable level of things for them to request of me. My broker mentioned I should write, almost an apology about why I receive some of my packages/mail at my parents house.

Anyway, I don't want to be prideful here, but along with some other minor annoyances, I'm almost ready to walk and wanted to know what is a reasonable amount of things to be requested to prove you live where you actually live.

I'd also like to know, that if this goes south and they deny, do I have any recourse against them, as it only has this problem in underwriting, but there is only a certain effort that I will put into proving that I live in my own house. I'm not going to beg someone to take my money either. It's been 4 months of hoops and I want to make sure my perspective is correct.

Thanks for reading.
Hi gte,

You can ask your lender to let you know what proof they want in order to consider the home as yours and not an investment property. You can even contact a real estate attorney and take his opinion in this matter. He will help you know what steps you need to take in this regard.
Posted on: 16th Feb, 2012 09:16 pm
Hi gte,

I agree with what Adonis has said. A real estate attorney will help you in understanding the needs of the lender and may help you better in this regard.

Posted on: 19th Feb, 2012 11:14 pm
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