1 A final credit report is required within a week of the closing and must be run to determine that (1) the borrower delinquent on any debts (2) the client has no accessed new credit such as auto loans or leases, persoanl loans, or new credit cards (3) the client does not have new inquires that appear on their credit. If any of these have changed, then the results can be very bad. Consumers can lose their approval or their rate can vary dramatically.

2 There is a huge disconnect between the perceived value of a property by the consumer, the appraiser, and the Under Writer. Mortgage companies are now required to follow new laws regarding appraiser independence. Consumers believe that the mortgage company hired the appraisal: thus the value on the appraisal is a good value. That is no longer the case.

3 Consumers are still used to the documentation that was required in 2006-2007 to earn an approval. The process at the time was very easy and it is one of the reasons we now have the current issues. The documentation required for the current process is now very intrusive.

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I™ve just sold a Multi-family (2-4 units) property at 30-32 Bainbridge St in Malden. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I™ve just sold a Multi-family (2-4 units) property at 30-32 Bainbridge St in Malden. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

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I™ve just sold a Resale – single family property at 455 Fellsway West in Medford. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I™ve just sold a Resale – single family property at 455 Fellsway West in Medford. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I™ve just sold a Multi-family (2-4 units) property at 30-32 Bainbridge St in Malden. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.