I had a young couple buying a home through me with USDA financing. Their lender (not one I've used before) assured us over and over that everything was moving along smoothly. That is until two days before our scheduled closing when I get word through my clients (not the loan officer) that my clients make $180 too much each year to qualify for the USDA loan. AAACK! Shouldn't that had been discovered weeks ago?

Because the loan officer did not return my calls, I asked my clients to have her challenge the fact that because they are both teachers they could not count child care for three summer months! Guess what, no teacher in Missouri gets three full months off anymore. Seems reasonable right? It would have been, except for the fact that the USDA underwriter was going to be at a work conference for a week, so the file would have to wait until he got back. DOUBLE AAACK!

So do we wait 9 days to get an answer to our appeal or do we change financing directions? We chose the latter. We contacted another lender and went the FHA route. Once again, everything seemed to be going well. We were set to close this coming Friday when just yesterday I was told because one of my clients had been a student for the last 4 years and had not had a job during that time, there might be a hiccup. TRIPLE AAACK.

So we are crossing our fingers and holding our breath that we get an exemption on the job rule. AAACK!