Question on an FHA conventional loan

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Posted by jess on July 21, 2008 at 09:57:22:

Hello everyone need your help I am in process of purchasing my first home. My middle credit score is 686
my high is 731, Home price is 310k I am putting down 10%
as by now the bank has cashed my 2,000 check to open escrow, I have paid $400.00 for an appraisal fee on the property it is an approved short sale) ready to go by the bank. The bank has asked me to have an extra $1550 as (reserves for taxes and ins) they are compounding taxes and ins in my monthly. I have been at my job for 12 yrs. I make three times what my monthly payments will be and the lender said that is great that I definitely qualify for loan. I was asked to get a reference letter from a landlord and I did. now they have asked me to modify that letter saying that I pay atleast $1750 in my monthly rent and that is not true and I don't feel right asking my land lord to lie for me.

WHAT ARE MY OPTIONS?
WHAT IF I ASK HIM AND HE REFUSES??
WHAT HAPPENS IF I CAN'T GET THE LETTER TO SAY THAT???
CAN THE DEAL FALL APART BECAUSE OF THAT?

I do have a letter of recommendation from my landlord already stating that I have 3 yrs great reference saying that I am responsible and punctual on my mthly dues. no he did not state the amount that I pay for rent as I was never told to do so at first.
I will be taking them some financial statments about 4 months ago I bought a n SUV infinitti 05 at an auction and I paid $27k cash doesn't that show some credibility on my behalf. they did not ask me for this I want to show this voluntarily it has to count for something. counts more then a lie to me.


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