It was all going so smoothly...

There we were sailing along on the countdown to moving into the new house, trusting our mortgage advisor that we would closed and in our new house on or around the 20th of December.  Then we got the heartstopping EMAIL that they could no longer finance our mortgage and needed permission to send all of our information to another mortgage company that could finance us. We received this EMAIL on the 20th of November, 30 days prior to closing, and 2 days before the Thanksgiving holiday. Did I mention that we received this news in an EMAIL! REALLY? You can't call us and tell us the problem and why you need to move our mortgage?

We followed all of the original advisors advice to increase our credit score while the house was being built and in the end this advice proved to be the deal breaker. If you call yourself a morgage advisor and credit repair specialist than you probably want to know the best way for people to qualify for a mortgage and repair their credit. The whole problem basically boils down to 2 credit score points that wouldn't have been a problem had the 'mortgage advisor' stopped pulling our credit constantly to see where we were at. (3 times in one month) Apparently, we have come to find out that you can have your credit pulled 2 times in one month and it will not effect your score. There are also 'hard pulls' and 'soft pulls' depending on why the company pulling the credit wants the information. Additionally, and this is the kicker, if you pay your credit card bill in full each month you actually get less credit than if you leave a balance on your card. Now common sense would tell me that a company would want to see that you borrow no more than you can afford to pay off each month, but apparently I am wrong and the credit card companies have a hand in this and want your interest and will then give you the highest score. That coupled with using no more than 20% of your available credit in any given month give you the best possible chance of increasing your credit. I guess if nothing else I have learned loads about credit and credit scores.  That is me trying to look at the bright side.

So Dave and I are left holding our breath until December 20th when all the paperwork is signed and we have the keys in our hands. Our new mortgage advisor seems to understand how we are feeling and the trust issues we now have and seems willing to put our minds at ease.

Roll on December 20th!!!