Disappear and ignore the lender's calls5 of 7Want to throw your home loan into limbo?"Go on vacation and don't tell the lender," Walters says.Lack of communication will throw a pending mortgage into turmoil. "Remain accessible," Walters says. "Don't disappear. Sometimes people do."A lengthy disappearance might have been a nonissue a few years ago, but it's not a good idea now. Lenders' paperwork requirements are more stringent than they were three years ago.Expect the lender to ask for documents sometime between application and closing. It might be a request for your latest pay stub or an explanation of a big deposit into your checking account.Stay in contact with the lender, and respond sooner rather than later to requests for more documentation. Related Articles:Conventional refinance?'Cash-in' refi takes offLow score = high paymentLow cost refinanceRelated Links:Refinance home or move?How to kill a loan closingMortgage calculatorBest mortgage for you? advertisement
Want to throw your home loan into limbo?
"Go on vacation and don't tell the lender," Walters says.
Lack of communication will throw a pending mortgage into turmoil. "Remain accessible," Walters says. "Don't disappear. Sometimes people do."
A lengthy disappearance might have been a nonissue a few years ago, but it's not a good idea now. Lenders' paperwork requirements are more stringent than they were three years ago.
Expect the lender to ask for documents sometime between application and closing. It might be a request for your latest pay stub or an explanation of a big deposit into your checking account.
Stay in contact with the lender, and respond sooner rather than later to requests for more documentation.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.