Today, I was still pretty distressed about the mortgage loan
denial. But I’ve been trying to put a positive spin on things, maybe it wasn’t
meant to be. As I mention yesterday, my attorney had given me the contact
information for a new lender who is now reviewing my documents (2 years tax
returns, pay stubs, bank statements and student loan repayment schedule and the
cooperative financials). At this point, I was looking forward to my HSBC denial
letter as is required. After writing that long blog post yesterday, I had
mentally prepared myself for yet more bad news from HSBC. But then I was stunningly
surprised by the email I receive this Evening.
The email was forwarded to the loan officer from the underwriter and copied
to myself and my attorney. The email states as follows, “the borrower provided
a document indicating that her student loans are currently in deferment until
2015. A deferment on a student loan for more than one year indicates that the
borrower is still in school. Unless the borrower can provide documentation that
the deferment was granted for a reason other than being an active student, we
have to include those expenses”. What, does this mean, that they are still
considering me for the mortgage? Now I am confused. Is this one of those
strange occasions where ‘no’ actually means ‘yes’. Asking for further
documentation on a loan that was denied?
I completed my graduate degree this year and this can be
verified by a letter from my school. It can also be explained by my diploma.
Now the tricky part. I paid for the first year of school on my own and only
applied for a student loan in the second year of my three year program. According
to Sallie Mae, I am in school until June 2014. They have also given me a six
month grace period before I begin repayment in monthly installments. My grace
period ends January 2015. But as I have already begun making payments on the
loan I never saw the need to correct Sallie Mae’s record. Therefore, it’s going
to be difficult to get a letter from Sallie Mae explaining that I’m no longer
enrolled in school. How am I going to be able to “provide documentation that
the deferment was granted for a reason other than being an active student”?
Help!
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