5 ways to screw up a mortgage refinance
Disappear and ignore the lender's calls
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.