Confessing your Life and then some. All of these are real loan experiences, some the loan survived, other the loan ended right then and there and was not able to be completed. In this week's podcast, Stan explores the following:

• Lenders find out more about you than you know about yourself
• When meeting with a lender, consider who you include in the meeting as the questions will get personal. You will be an open book.
• Credit report will pull up any name from the past (maiden, past married name, aka’s used in Las Vegas)
• Are you retiring or changing jobs in the next 60 days? Lenders always re-verify employment at the time loan papers are signed.
• You bought the home when single, now married living in a Community Property State. Your spouse will have to sign something, either to remain not on Title or to be added to Title.
• DO NOT even shop for car. New car payment could make the total debt to high and disqualify one from a mortgage.
• Employee for many years, now, with others, buying out the retiring owner. As soon as the “sale” is signed, one is now “Self-employed”, very different income requirements for the lender.
• The Property/Appraisal: bathroom in the middle of being remodeled. Interior stairs accessing up and down rooms have been removed. Front door replaced with plywood because a bear tore off the front door.

For more information, contact Stan Hook at:
SHook@allcalifornia.com

DRE License #01150424 NMLS #287118

“Licensed by the Department of Corporations under the California Residential Mortgage Lending Act.”