bank is a no-go

[Linda/NE]

:(:{ :{ :{ :(:bawling: :bawling::bawling:

Well I didn't receive good news, needless to say! The lady from the bank called this afternoon and said after talking with the bank president they didn't feel our credit scores were good enough. I told her about the mistake that we had corrected on dh's report and her comment was : "Did that change his score?" So it's obvious that we are just numbers to her even though we've been banking there for years and my WHOLE family banks there. (Some family members are quite well off too.) She asked for a copy of the corrected report which I took through the drive through.

When dh got off work I talked to him about it. He went down and talked to the realtor. This guy referred us to a bank in a neighboring small town (the loan officer just happens to know dh and his family). He also referred us to a mortgage company. I guess the realtor has referred 3 people to them just recently. They all have attempted loans first through the bank we use. The lady at the mortgage company was pretty surprised that the bank wouldn't take this.

I'm gathering up all the info: business plan, letters of intent and recommendation, etc., and heading over to this other bank in the morning.

I was so mad and upset but after dh talked with the realtor and these others it gave another ray of hope. Maybe all my posting about it is jinxing it. LOL

Thanks again for all your support and prayers!! :)

BTW, we are still going to pull all our accounts from this bank.

[KarlaB]

Linda - I am so sorry to hear you got bad news today. I know how bad you want this. Hopefully "plan B" will work out with no problems! Hang in there and best of luck! :)

[darlene]

Keep your chin up Linda! Head to the next bank.

When dh and I wanted to buy our house trailer, the bank we (and his family) had been with forever wouldn't give us the $$. We walked across the street to another bank and they literally said "how much do you need?". Guess where our accounts are?? :lol:

Keep us updated!

:)

[littlesista06]

I'm sorry Linda.
I hope you get the answer you want at the next bank!

[lindaM]

Oh Linda, I'm sorry the bank did that. We'll be thinking good thoughts for bank two to approve for you.

[Diane]

8o Sorry it didn't work out through the first bank... but we'll keep our fingers crossed and pray that Plan B will work out much better for you. This happened to my sister and her dh when they were looking at buying their first home. One bank wouldn't take it, so they went down the road to another bank and it went off without a hitch. Funny how that works... LOL Please keep us updated... and good luck!!

Diane... :wave:

[Marla]

Linda, sorry to hear that it didn't work out for you at the first bank.

Definately keep on trying until you find a bank that can help you out .

[Amy]

Banks are definitely harder to work with compared to mortgage companies. They are way too conservative and greedy when they do business. Mortgage companies are more likely to make it happen for you. The people who bought our Colorado house went through 2 banks and 1 mortgage company before they could secure a loan (they had NO credit). It CAN be done!!

[BevJ]

Oh my! I feel sad for you, you were so hoping it would all come through. But, glad to see you aren't giving up and I hope you have better luck at the neighbouring bank. Crossing fingers!

[JAK]

Good Luck and the other bank and morgage company. Glad to see that you are not giving up! There are several other banks/margage companies/credit unions and so on that will give anyone $- you just need to find them!

Have you looked into those loans they give to women for starting their own business? I've seen comercials on TV for them before.

[Linda/NE]

Thanks So much guys!!!!

Well Plan B is in progress. I met with the man at the bank this morning. I was in there for over an hour. He sounded pretty positive about it. I explained about the scoring with the other bank and he said they are one of the few independent banks left. The problem with our bank is that it's a branch so they are interested in big wigs and not so much with the little guys.

One of the mom's of a preschooler I had last year works at this bank. Her dd and my dd are good friends. She wished me luck with it. I'm hoping the loan officer may ask her about me. He was impressed with the amount of education I have and the amount of work we've done on this business plan.

So, I'm not getting my hopes up too high, but at least I'm not going to worry myself sick all weekend. It's our last weekend of vacation so I'm going to try and enjoy it.


Originally posted by JAK
Good Luck and the other bank and morgage company. Glad to see that you are not giving up! There are several other banks/margage companies/credit unions and so on that will give anyone $- you just need to find them!

Have you looked into those loans they give to women for starting their own business? I've seen comercials on TV for them before.

I'm not familar with those. I'll have to keep that in mind.

Thanks!!

[imamama]

So sorry to hear this has happened. But, have faith that it means you're going to get a better rate somewhere else... then you can go thumb your nose at your former bank!!! Hoping the best for you. Do a search for goverment grants. I've also heard there are grants and small business loans just for women.

[Leigh]

Keep your chin up. Got my fingers crossed that this bank approves you!