This process has become very stressful for me!! I was given the green light to start looking for a home and I did. Received loan # and had house inspected. Have submitted countless documents and last week found out that the calculated my income wrong and my mileage income may not be able to be used. Which means I can’t get the loan😔. Seller wants to back out of deal. Was told that Naca UW and MC asked for mileage to count as income and citi is reviewing it.. PROBLEM….. was told there would be a decision by 5pm and no decision and seller is ready to cancel deal. How long does it take to make a decision from Citi when I was told that this would be expedited because literally In 2 weeks I will be homeless and out over $1000. Because of an error not on my part. I just need an answer one way or another.
Stressing out isn’t going to help you accomplish anything, and the only person who can make you stressed out is yourself. Try to relax. With two weeks left, you have plenty of time and honestly, no reason to be so concerned. Also, “Seller wants to back out of deal” is almost certainly an idle threat and is an old mind game seller’s agents like to play. The truth is “Seller wants to close on the deal.”
I need you to please email me and let me know exactly who told you “there would be a decision by 5pm” and on what day. Especially since we are waiting for a decision from Citi, nobody in NACA would have the authority to make that statement, and I need to track that down.
It sounds as if your file may be getting a second level review at Citi which means they would be reviewing it at a level to make and exception regarding the mileage if at all possible.
Relax, have faith, and let the system work. I suspect you are going to be just fine.
Did you ever get your problem resolved? I have been looking at homes for over a year but I can’t even get a seller to accept my bid. I came on this blog to hopefully get some idea or clarity on why sellers do not want to work with me and NACA.