There are many obstacles that stand in the road to homeownership. Prospective buyers need to take many preventative measures to ensure their deal. A simple precaution a buyer can take is evaluating all financial information with their lender. Any surprises could disrupt the lending process. Another step to take would be not to make any major purchases when the deal is being closed. This is because lenders can recheck the buyers credit history right before closing, and any new credit obligations may cause for concern.
In today’s competitive market, buyers must obtain more than just pre-approval, but also obtain a loan commitment. A loan commitment is a guarantee that the needed money will be made available to the buyer. This commitment can help ensure the buyers success in this competitive house market.
Contact Shaffer & Gaier – Protecting Homeowner Rights
The law firm of Shaffer & Gaier protects the rights of those who are facing foreclosure or seeking mortgage modifications in New Jersey and Pennsylvania. To set up a free initial consultation, contact our office online or call our foreclosure hotline at 855-289-1660. Or call our office location in Philadelphia at 215-751-0100, or in New Jersey at 856-429-0970.
