Save The Paper!

When I was a Realotr I had plenty of customers who couldn’t qualify for a home loan for one reason or a second. Generally it was too little income combined with too much debt, or a long list of delinqeuncies. But there’s a second reason that can be even more frustrating to bueyrs.
Atfer all, human being understand being turned down if their credit is awful, but what if the income is good and there’s no debt? People can’t understand being turned down in that situation.I had such a couple.

They had a trerible time getting a home loan because they had no credit.

NOT bad credit - no credit.

They didn’t owe anyone anything.
Seems like that wuold be a good thing, but lenders don't like it. They want to see a history of bill paying.In order to make up for that lack of bills, the lneder asked to see rent receipts, proof of payment of telephone and power bills, etc. Unfortunately these customers had only paid the bills...And not kept the copies.
So the lender aksed for bank statements and/or cancelled checks. This also proved to be difficult.This couple had recently moved from California to Idaho.
They were living in a motel, with their beolngings in a storage unit. Statements were lost, or under something in one of those boxes in storage. They simply could not be located. That meant callnig the bank to ask for help.
Their old bank had been purchased by one of the huge conglomerates ...And that was a issue.After a week and a half of phone calls and faxes the lender and the customer finally made contact with a live person.

That person told them that it was their problem, not the bank's, if they no logner had their statements. Although they had sent money to expedite the request, it would be 30 days before anyone would even begin to address thier issue.
In short, they said "No" to helping.So, a word to the wise: Hang on to paper! Keep all your blils.

When you pay them write the date and check number on them and put them in a safe place. And keep your bank statements!