credit, loans, and moving forward.....

I will NEVER understand credit. Ever.

We were young and dumb once. Made a lot of mistakes that eventually caught up to us about the time the economy tanked around the end of 2008. With a surprise pregnancy (had 2 small chidldren already) and cut in my hubby's pay we were struggling. We had 2 mortgages (the 2nd was taken out to try and help "fix" some of our young and dumb days). We tried to get them to work with us, but they were unwilling (this was a few months before Obama stepped into to help help people with mortgages). We sought an attorney and were told a chapter 7 bankruptcy (b/k) was our best option, and yes, include the mortgages. It would allow us a fresh start, and within 2 years we could apply for mortgage loan. So, we did it. In January of 2009 we filed for bankruptcy. Never once did we miss a mortgage payment on either mortgage up until we filed the b/k. That was when our attorney told us to stop. In April of 09 our b/k was discharged.

Fast forward 2 years (well...almost). We have been trying to get pre-approved for a mortgage loan. We pre-qualify, but getting pre-approved is like trying to do dental work on an alligator in the dark with fresh meat attached to you. Crazy hard!!

We finally, FINALLY, found people who said they didn't care about the b/k. WOOHOO!! They "just needed to know we learned our lesson". You gotta love local credit unions! So, we applied.
However, even with credit scores pushing 700 now and no debt outside our 1 car payment, and that we have never missed or been late on rent (which by the way is higher than the mortgage payment would be), AND my hubby is getting a promotion (which means more pay), we were denied. Why? Not enough credit. Um..hello? Weren't you the one's who said you wanted to make sure we learned our lessons. We have learned if you don't have the cash, you DON'T DO IT!!! We only got the credit cards we have to charge a few things and then pay them off to BUILD the credit and the credit scores. So, the fact that we HAVE learned our lessons isn't good enough. You want us to have taken out MORE debt to prove we learned our lesson? How in the world does that make a bit of sense? I will NEVER understand credit for loans. Too much is not good. Not enough is not good. What in the world is the right amount?? You would think that since we have shown responsibility now, it would mean something.

We did finally find out that foreclosure mess. It's not OUR foreclosure. No one can consider it legally ours. =D Oh Happy Day!! They were "bankrupted loans". So we're back to the b/k. Two years.... So it's back to the FHA loan. It's up to lender's whether or not they will take us. We have a 50/50 chance.

I have beaten myself up about all of this. How could I have heard so wrong? What about all those confirmations? How could my faith have been so strong in something that is going so wrong? What I called "stumbling blocks" were called "stepping stones" by two others. What does this mean about my faith? Did God abandon me? Am I so far gone I'm worthless? I have done scripture...prayed with faith and believed. I have declared it. I just don't understand!!! In the end, I CHOOSE to believe the my God has NOT abandoned me. And until this whole thing is finished, one way or another, I will continue to hold out hope.

So....We have over-nighted the FHA loan application to who needs to go to with NVR's broker people. We'll see.

In the mean time, they want us to pick our colors and meet with Guardian about the wiring. If I go through all this to be denied....I don't know that I can take it.

Please keep us in your prayers. We want this house We want to move. We NEED to move!!! We could use all your good thoughts, energies and prayers as we hesitantly move forward.....