Title Page Background

Buyers Should Be Careful About Credit Use Prior to Closing

 

Buyers and their agents need to be aware that it is a very bad idea for buyers to increase their credit balances or to open new lines of credit shortly before they close escrow on their new home. More specifically, they should avoid such activity during the period of time between loan application and closing. This is because policies under Fannie Mae's Loan Quality Initiative, effective June 1, 2010, requires lenders to "refresh" a borrower's credit report just prior to closing.

 

Link to the rest of the article: http://tiny.cc/qldld

Advertise With Us

Advertise With Us
Apply to be the Exclusive Foreclosure Expert in your Region... Learn More!

USHUD.com on the Go!

Foreclosure Mobile App
Ushud Foreclosure iPhone App
Ushud Foreclosure Android App

5 Most Expensive Mistakes (subpage sidebar)

Top 5 Mistakes

Follow Us

Facebook Icon Youtube Icon Twitter Icon Mimian Icon
AddThis Social Bookmark Button