How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Rakhi Vasavada Your Own Question

Rakhi Vasavada
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4479
Experience:  Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
43581946
Type Your Finance Question Here...
Rakhi Vasavada is online now

Hello I recently applied for a mortgage and was turned down

Customer Question

Hello I recently applied for a mortgage and was turned down because of 'affordability'. After looking at my credit report it seems that a finance company had not officially closed my finance agreement and I still had it outstanding ( even though it had ended ) and it looked like I owed 10k more on finance than I actually did. I have contacted them and they will be closing it and sending me a letter explaining their mistake. I have 2 questions 1. Is the mortgage company likely to look at this again once it has been resolved and the discrepancy explained? 2. Will this affect my credit report going forward as it may show as a rejection? Thanks

Submitted: 2 years ago.
Category: Finance
Expert:  Rakhi Vasavada replied 2 years ago.
Dear Friend,

Hello and welcome. Thank you for providing an opportunity to assist you.

I am sorry for your situation and the problem faced by you is not uncommon. I agree that it is a lapse on part of the finance company of not reporting the settlement on your credit.

Coming to you question in specific, YES, the mortgage company will certainly look at this again once you have this issue resolved and once you have a letter from them explaining this. Secondly, this will not impact your credit seriously. Even if the earlier mortgage company which turned you down made a hard inquiry, it will not be a serious damange and it would be limited to few points here or there and also it would get corrected in a short time. You have nothing to worry about this as such.

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards
Expert:  Miel-cssm replied 2 years ago.
We received your customer service inquiry, however, we are unable to respond to you because we do not have your email address. Please contact customer support at [email protected] and provide us with your email address and a link to this question page so that we can help you. (http://www.justanswer.co.uk/finance/8gygv-hello-recently-applied-mortgage-turned-down.html). Thank you, The JustAnswer Customer Support Team.
Expert:  Rakhi Vasavada replied 2 years ago.
Dear Friend,

Hello again. I am little confused. Did my above reply helped ? Were are able to read it ? If not, I am reproducing it the same below.

Hello and welcome. Thank you for providing an opportunity to assist you.

I am sorry for your situation and the problem faced by you is not uncommon. I agree that it is a lapse on part of the finance company of not reporting the settlement on your credit.

Coming to you question in specific, YES, the mortgage company will certainly look at this again once you have this issue resolved and once you have a letter from them explaining this. Secondly, this will not impact your credit seriously. Even if the earlier mortgage company which turned you down made a hard inquiry, it will not be a serious damange and it would be limited to few points here or there and also it would get corrected in a short time. You have nothing to worry about this as such.

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W
< Previous | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
 
 
 

Meet The Experts:

 
 
 
  • Rakhi Vasavada

    Rakhi Vasavada

    Financial Advisor

    Satisfied Customers:

    1793
    Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
< Last | Next >
  • http://ww2.justanswer.com/uploads/RA/rakhi.v/2012-7-3_14374_RakhiVasavadaL.64x64.jpeg Rakhi Vasavada's Avatar

    Rakhi Vasavada

    Financial Advisor

    Satisfied Customers:

    1793
    Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
  • http://ww2.justanswer.com/uploads/MS/MsAM/2012-6-9_16426_anna.64x64.jpeg Anna's Avatar

    Anna

    Teacher, writer, biologist

    Satisfied Customers:

    270
    Great research skills, variety of work experiences, teaching experience.
  • http://ww2.justanswer.com/uploads/PD/pdheslin/2012-6-6_232056_pambig.64x64.jpg pdheslin's Avatar

    pdheslin

    Consultant

    Satisfied Customers:

    51
    20+ years of internet site creation and search engine optimization. Dozens of search tools at my disposal.
  • http://ww2.justanswer.com/uploads/BL/blueflowers1063/2013-10-10_35834_KimHolidays1.64x64.jpg Kim D.'s Avatar

    Kim D.

    Consultant

    Satisfied Customers:

    27
    Researcher 20+yrs in small and large institutions
  • http://ww2.justanswer.com/uploads/NU/nursescare4u/2013-3-31_03429_JApic.64x64.jpg findinganswers's Avatar

    findinganswers

    Internet Researcher

    Satisfied Customers:

    22
    Internet Researcher, Nurse for over 17 years, and can find answers for you!
  • http://ww2.justanswer.com/uploads/PR/ProMBA/2012-6-7_154051_beach.64x64.jpg ProMBA's Avatar

    ProMBA

    Internet Researcher

    Satisfied Customers:

    3
    I'm an owner of three businesses, with both undergraduate and graduate business degrees from top tier universities.
 
 
 

Related Finance Questions