My buyers loan fell out today!!!! Turns out she was lying to us all along, instead of a 700+ score, she is a 558!!!! Needless to say, I am try to get my lender to finish her because hers could not get her done. I am supposed to resign on Weds. Drive up Thursday morning, fill out paperwork Friday, and leave for training on Sunday AM next week!!! OF course I find all of this out at 2:00 on Friday afternoon the Friday before the biggest weekend of the year and everyone is GONE!!! Here are my options.....
1. Take a 100% loan, pull 25,000 out for closing costs and relist the house.
2. Take a 100% loan, pull out 25,000 for closing costs and rent out the house.
3. Do a 95/5 deal, where I hold 5% interest back on the house, and she has 12 months to pay me or I call the note, take back the house.
4. Find a lender willing to give an exception for her high score of 583.
I know you guys are connected, and the builders are willing to give us time to resolve this one way or another...so I need options people...I am getting a little nutty here, but maybe you guys can point me in the right direction, if I don't find a solution by Friday at the latest, it will all fall through, job, house, all of it. So help me out here guys, will ya?