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Todd H.

writes:
What do you make of this. I have never been through anything like
this before? Any comments? Thanks for your time!

I agree with their advice against buying points. It's generally never
a wise move unless you know with a high degree of certainty the life
of the loan will be beyond a certain number of years.

An unscrupulous lender (and there are certainly no shortage of these
nimwits) will screw ya with little recourse available to you. This is
why it's so important to identify an honest one ahead of time.
Unfortunately it's hard to do without having a recommendation from a
savvy sharp friend who's used them before and can vouch for their
efficacy.

Good faith estimates are just that--estimates. Even if it paints a
rosy happy picture and you sign it, nothing prevents a lender from
surprising you on closing day with higher closing cost numbers, and if
you're wedged with a transaction tha thas to happen, you'll end up
pretty much having to sign whatever those fees are that day, or
licking your wounds for the transaction not happening that day. I
think about the only thing they can't change on the GFE is the rate if
you locked, the term, and the loan amount.

A 30+ day past due at the time you apply for a loan is a very
unfortunate bad thing to have happen. That a lender wouldn't accept
a written explanation of it doesn't sound all that out of the
ordinary. It throws off their risk calculations on which the rate
they gave you was offered.

Hope you get it all sorted out.

--
Todd H.
http://www.toddh.net/