This is a very detailed process and you will need to provide information which you may feel is unnecessary. All items requested are mandatory requirements per the lender’s underwriting department, and/or the Federal Government. We will do what we can to limit your exposure to requests which you may feel are silly and unwarranted, but some things are out of our control.
A lot of things can happen during escrow that could change the underwriting disposition of your loan application. For example; a borrower could lose their job, get injured, or have a home damaged by weather, or some other unplanned event. The more time there is between application and closing, the more of a chance that one of these events could occur. We understand that sometimes, bad things just happen. However, there are things that you can plan for; things within your control.
Here are a couple quick tips and rules to follow while involved in a mortgage transaction:
These tips should be read and followed to avoid many of the common mistakes made by borrowers during the escrow process. Ignore these rules at your own risk and PLEASE call me with any questions if you're unsure about something. It's ALWAYS better to be safe than sorry!