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Have Approved Va Loan, Need Lender

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Posted By:
Denis Daloisio
Posting ID:
3823p2427
Location:
Yuba City
Telephone:
Tags:
 homes   real   estate   financing   help 
Service Category:Financial Services

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In June, 2008, my wife and I moved into a lovely rental home. Our agreement
with the owner called for a month to month rental at a monthly rental fee of
$1,350. We came to love this home, and my wife took pride in how great she
had fixed up the front and back yards with flowers, decorations, etc. We put
out all the money for that at no cost to the owner. We always paid our rent on
time and in full each month without fail. We also paid for a landscape service
and a maid cleaning service on a regular basis. All was going well until the
owner decided to sell this home in January of this year. The owner is in the
military and owed much more on the home ($280,000) than the home was
now valued at ($179,000). Thus, the owner was able to go through the new
Government Homeowners Assistance Program (HAP) and get the home
paid off because she was in the military. She then offered to sell the home
to me, and I agreed to buy it for $175,000 which was what I could borrow
via a VA loan. I went through a lender and all was going well, except for
the fact that this transaction was taking an awful long time. I was told by
the seller’s real estate agent that the cause for the delay was due to HAP
and he said the government always takes a long time to do things, which
I suppose is true. At any rate, my VA loan was approved and my credit
score was okay and approved also by my lender. Things were at last
seemingly moving along and I had signed and initial a vast number of
documents these past few weeks, and was informed that escrow should
close on the 28th of June. I had even given the seller’s realtor a bank
check for $1,000 a couple of weeks ago that he said he needed to give
the Title Company for earnest money. I gave this $1,000 even though
the realtor never showed me a Contingency Removal Form and I never
of course signed one. He also had me endorse a copy of the HAP
Government Sales Contract and said he would send me a copy of it
later, which he never did. He gave me only a blank copy of the HAP
sales contract. When my lender’s loan officer first checked my credit
score back in January it was fine. Since then someone somehow got
hold of my credit card numbers and charged things to them that were
not authorized at all by me. In other words, ID theft occurred here.
I only had about 6 or 7 open accounts and all were being paid each
month as agreed (Chase, Capital One, BofA, etc.). When the ID
theft occurred, I of course contacted each creditor and also filled out
the necessary forms, etc. The only account that was okay was for
my new car, which I purchased in October, 2009, and which every
payment has been made on time to date. Nothing was done about
this ID theft by my creditors and they still wanted me to pay money
on my account, which I refused to do until or unless they cleared it
all up and removed the charges that were not mine. This has not
been done to date, so when my loan officer again checked on my
credit score yesterday (he said he had to do a new credit check
because the initial one was over 90 days old) he discovered that
my credit score was in the toilet, so to speak! I tried to explain to
him about the ID thing, but he said there was nothing he could do. He
said my loan was “now dead”. I still want this house and should point
out that our income is $5,202 monthly and that is a NET figure. And,
yes, I can verify that income. My wife and I are both retired senior
citizens and we both have pensions and monthly social security
benefits, minus Medicare part B and prescription costs of course.
Yesterday was “black Friday” for us and I cannot even get an email
reply from the seller’s realtor about my $1,000 earnest money. That
should be returned to me, I am told, but this man does not reply to
my phone calls or emails. Finally, can someone help, please? We
would be forever grateful. Just contact us, if you can help, very soon
with instructions on how to reach you, okay?
Thank you.

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