Quote:
Originally Posted by jswintberg
We just recently used BOA (US Trust) and they bent over backwards to meet all needs. Their rate was .25 lower than Citizens and the fees were less. Citizens also has a debt to income ratio and required me to take an $8,000/month IRA distribution to meet the ratio since we do not have any income at this moment. BOA has no such requirement. We ducked the scare tactics to use Citizens and are grateful to BOA.
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We had the same debt to ratio problem even though we were preapproved months earlier. We did the IRA withdrawal but were told we could cancel it after one month which made no sense that it was required. We probably should have switched banks but Citizens Mortgage assured us that no one else would be able to close in a month and by then we were about 2 1/2 weeks from closing.