Los Angeles Living

Timing is everything.

We didn't get to officially meet at RainCamp, but I recognize your face (and stunning eyes!)

Ralph,  I'm blushing :)  I actually saw you rushing by at one point.  Thught I recognized you.

Jane.....those instructions should be given to every buyer.....I always did....no large purchases should be made.

Jane, good advice now than ever.  With the lenders turning over every piece of paperwork five times before releasing the funds, buyers cannot be mindful enough.

Jane, this is great advice that I give to all my clients, they just don't understand that it is a process and the mortgage company holds all the cards until the transaction closes, hope you are well

Great reminder Jane. It only has to happen once to you and you'll never forget to remind every buyer from then on!

Jane,

It's amazing how many people violate this even after being told to refrain from additional tampering of the credit.  Good reminder post.

Jane,

Such great advice!  Thanks for the reminder!

Jane - Yep, this is a fact folks, the chances of your credit being pulled again before funding is highly likely (it varies from lender to lender).  I've been telling my borrowers for years not to open new accts, close any accts or run up their credit cards during the escrow.  Invariably, at least once (maybe  twice) a year, I have a client who learns that particular lesson the hard way.

Barb, I am sure it is a great temptation to go out and spend on new furniture for the house.

Sylvia,  you can say that again.

Gerry, that is part of our job to make sure that everything goes smoothly without any last-minute surprises.

Carol,  absolutely.

Cherise,  we should keep all their credit cards :)

Lori,  you are welcome.

Donne,  I wonder how many lenders do in fact warn the borrowers of this.

I know my buyers must tire of me preaching about this.......but every once in a while you get one that needs to hear it more than once!

Ann,  better to be safe than sorry.

Jane I tell all of my buyers do not charge or buy anything.  Do not open a line of credit on anything until after the act of sale.  I tell them over and over so I know they hear me, do they listen?

John, um, let me think......

 A great way to say what needs to be said to buyers.  "Don't get carried away and buy all new furniture fo rhat new home? until the deed is signed, etc..

Judi,  bottom line.  Resist the temptation.

Hi Jane, There was a closing that fell apart several years ago when the husband decided he wanted to buy a new truck days before closing.  His wife was really upset because her dream home closing wasn't going to happen, I think the man ended up living in his brand new truck instead.

Mary,  that is too funny.

But but but...we needed the new car in the driveway..the old one was a junker. What would the neighbors think?

Margaret

Beginning July 1st?  I thought this was already going on.  I have warned my buyers about this for years.

Margaret,  that would be the one exception :)

Charita,  I think what was being said was that they are going to step this up a notch.  After all, we must find new ways not to lend money, right!