[azdmsmith]

Maybe my letters got some attention because people are at least calling me now instead of the other way around. I got a call Thursday asking for updated bank statements because back when I originally applied my statements were from February. I’m just a bit concerned because the original guidelines indicated that a homeowner could qualify with a “cash reserve” of up to 3Xs the borrower’s monthly debt payments. The latest FannieMae guidelines allow for a cash reserve of up to 3xs the current mortgage (vs. total debt) payments AND a debt coverage ratio of <1.2. I am ok on the debt coverage ratio, but my cash reserve was slightly high because I hadn’t made my June payment. So, since it appeared I was making some headway without being 31 days late, I would have incurred late fees beginning today, and I needed to use some cash, I went ahead and made my June payment over the weekend. I hope I don’t regret that.
Wouldn’t you know that after faxing my bank statements within an hour of receiving the voice mail last week, when I called to follow up the person that called me was out of the office beginning Friday through tomorrow. Here we go again with the stalling and delays. The only good thing is that my contact from executive resolutions called me to follow up for a change so I told him about the latest delay.