Most people don’t realize just how strict the Mortgage companies have gotten since the crash of the housing market. One piece of information that I always tell my home buyers is that you “CAN’T make big purchases before you go to settlement.” We all know that buying a new house is exciting, especially if you get to go out and get new furniture and according to one of my past clients “everybody needs a new TV.” Although this shopping is fun, I insist that you hold off until after settlement is completed. Mortgage Company’s check to see if you have opened any lines of credit since the transaction has begun and if you have, this could easily keep you from settling on time. If you do this you are taking a big risk, it will also impact your insurance rates and your premiums will go up! So hold off on the 50 inch LCD until you have the keys in hand! For more information on Home Buying or Home Selling, please don’t hesitate to contact me!
www.CenterCityHomes.com / 215.901.7844
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106