<small>© 2019 Susan Pruden. All rights reserved. Each CENTURY 21 office is independently owned and operated. Listings provided by Bright MLS from various brokers who participate in IDX (Internet Data Exchange).
<small>© 2019 Susan Pruden. All rights reserved. Each CENTURY 21 office is independently owned and operated. Listings provided by Bright MLS from various brokers who participate in IDX (Internet Data Exchange).

Don't Do It!

by Susan Pruden
September 30, 2013 iStock_000004411494XSmall(er).jpgYou?ve seen lists telling buyers what to do to find the right home but knowing what not to do can be just as important. After finding the right home, negotiating a contract, making a loan application and inspections, buyers, understandably, start making plans to move and put their personal touches on the home.

In today?s tenuous lending environment, little things can derail the process which isn?t over until the papers are signed at settlement and funds distributed to the seller. Verifications (of income, bank accounts, debts, tax returns to name a few) are made by a lender at the beginning of the loan process to determine if the buyer qualifies for the mortgage. The verifications are usually done again just prior to the closing to determine if there have been any material changes to the borrower?s credit or income that might disqualify them.

Simply stated:

1. Don?t make any new major purchases that could affect your debt-to-income ratio
2. Don?t apply, co-sign or add any new credit
3. Don?t quit your job or change jobs
4. Don?t change banks
5. Don?t open new credit accounts
6. Don?t close or consolidate credit card accounts without advice from your lender
7. Don?t buy things for your new home until after you close
8. Don?t talk to the seller without your agent

Your real estate professional and lender are working together to get you into your new home. It?s understandable to be excited about one of the biggest decisions you?ll make and that you feel you need to be getting ready for the move.

Planning is smart but don?t do anything that would affect your credit or income while you?re waiting to sign the final papers at settlement.

A lifetime Maryland resident, Susan Pruden has the ideal foundation for selling and buying homes. After 8 years working in just about every facet of the mortgage industry, and several years with her own company specializing in marketing for real estate agents, Susan got her real estate license in 1994. Susan has earned several industry awards. The CENTURY 21 Quality Service Pinnacle Award is based on reviews from Susan's clients and is earned by a very small percentage of agents. She has earned that coveted recognition since 2012

Two others were awarded by the Prince George's Association of REALTORS®. The Distinguished Sales Associate of the Year Award is based on a mixture of community involvement, association involvement and real estate education and designations. The other, the Distinguished Service Award, is for "exceptional meritorious service."

Susan is involved in her local community. She was named Cheverly Volunteer of the Year in 2018, even having June 25th designated "Susan Pruden Day" in the Town of Cheverly. She is also a Commissioner on the Prince George's County Historic Preservation Commission and President of the Cheverly American Legion Auxiliary.

Susan Pruden has lived in Cheverly lived with her husband, Joseph, for almost 30 years.

Susan Pruden, REALTORĀ®
CENTURY 21 New Millennium
1000 Pennsylvania Ave SE
Washington, DC 20003
Direct:
© 2019 Susan Pruden. All rights reserved. Each CENTURY 21 office is independently owned and operated. Listings provided by Bright MLS from various brokers who participate in IDX (Internet Data Exchange).
<small>© 2019 Susan Pruden. All rights reserved. Each CENTURY 21 office is independently owned and operated. Listings provided by Bright MLS from various brokers who participate in IDX (Internet Data Exchange).
 
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