Mary Harmon Young
Mary Harmon Young

5 Things Not To Do During the Closing Process

Here are 5 quick recommendations of what Not To Do once under contract!

1. Make Any Large Purchases: A major purchase that requires a withdrawal from your funds or increases your debt can cost you your new home!  Your lender may pull your credit or re-verify funds right before closing, so avoid purchases that could impact your loan approval.  

2. Paying Off Existing Accounts Unless Your Lender Requests it: If your Loan Officer advises you to pay off certain bills in order to qualify for the loan, follow that advice. Otherwise, don’t make any changes to your accounts  until your escrow closes. 

3. Move Your Money to Another Institution: After the lender has verified your funds at one or more institutions, the money should remain there until needed for the purchase! If it gets moved, or if changes are made this may flag the lender and cause delays!

4. Change Your Marital Status: How you take title on your new home is affected by your marital status.  Be sure to make  your lender, your Realtor and the title company aware of any changes in your marital status so that documents can be prepared correctly and avoid any delays!

5. Change Jobs: A job change or even a change in hours worked may result in your loan being denied, particularly if you are taking a lower paying position or moving into a different field.  Don’t think you’re safe because you’ve received approval earlier in the process, as the lender may call your employer to re-verify your employment just prior to funding the loan.

16 thoughts on “5 Things Not To Do During the Closing Process

  1. Pingback: max

    • … agradecemos a todos pelos lindos depoimentos e palavras emotivas, sei que foi difícil para alguns receberem esta notícia. Mas agora temos que sempre lembrar dos bons momentos…como todo ser humano meu pai não era perfeito, em sua vida foi no caminho do bem e simplicidade, quase não dizia “NÃO”, tudo estava sempre tudo bem e sem problemas…Abraços…Felipe Rezende e família

    • Mr. Swain,I have a question about the global problems that the book focuses on. Were you only trying to write a book exposing the issues of world hunger and genetic modifications, or did you also try to reveal the presence of globalization, corporate dominance, and other global issues in the world today? Also, if the answer to the previous question was yes, what was your motivation for including the aforementioned problems in your book?Thanks,Eshaan Daas

    • I just love love love your post. What a lovely trip you had in Ca and your sweet friend is a great host. I enjoyed every bit of your post and the scriptures you shared blessed my heart. Thank you, you are a blessing. Happy 4th!Vanessa

    • I learned that Avisha is Sanskrit for “from nature.” Perfect business name! This sounds great, too. I have the bumpy upper arms myself and would love something that could help with that, as well as help with itchy pregnancy and postpartum skin.

  2. 24/11/2012 – 11:11amCon respecto a lo de la “pólvora mojada” en referencia a que fueran un equipo vasco y otro navarro,no cabe duda,de que las noticias las tratan según el equipo implicado,sin ir más lejos,ayer en la web del as-co,hacian referencia al partido Betis-madrid de la temporada pasada con un suave “lio arbitral” (recuerden 2 penaltis escamoteados a los Béticos,por sendas manos),sin embargo cuando el supuesto perjudicado es su querido madrid,entonces la cosa cambia y ya si,ya hablamos de “robo”,”atraco”,”escándalo” etc,más claro H2O.Saludos.

  3. dans le même style, il y a aussi le bug de l’image avec Google images… ou comment être facilement en 1er résultat d’une image dans Google image.. mais je pense vous devez le connaître. Et de toutes façons, ca ne sert a rien, à part pour les sites people ou les sites XXX, ou pour des sites très particuliers, vu que peu de trafic vient de google images pour les sites sur des thématiques classiques

  4. his videos had been deleted several times before. And it seems his account "Wondrous Japan Forever" is suspended at the moment…You should have seen it. It was really great.

Leave a Reply

Your email address will not be published. Required fields are marked *