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Showing posts with the label Avoiding Delays in the Mortgage Process

Avoiding Delays in the Mortgage Process

Buying a home is more like a marathon than a sprint. The process can be quite complex and can take months before you finally get the keys to your new place. One of the major time factors is the mortgage process. In light of the current economy banks are getting stricter and stricter when it comes to writing new mortgages. They require extensive documentation of your finances and everything is thoroughly reviewed. Some banks even check last minute information or contact your employers during the close to ensure that nothing has changes with your earning or employment status. The good news is there are some things you can do to streamline the process and avoid undue delays. You will want to compile all of your important financials in one convenient location. Even if you have already sent documents on to your mortgage broker or the bank you will want to keep them handy as they may request that you resend certain elements. You may also want to invest in a fax machine or scanner if you do n...