I hope you’re having a great week and seeing some new properties come online! If the house Hunt is going well, I want to review the liabilities and debts on your loan application.

We go over these things at the beginning of the process, but now it’s been weeks or months since you first read over the ten commandments. Regarding liabilities, it is essential that we know all of your liabilities or debts. We are referring to things like child support, alimony, or owning a property with a family member. Maybe there’s no mortgage on it, so you think that’s not a debt. But you’re still paying the taxes and insurance on it. So anything that you are legally obligated to, especially things that might not come up on your credit report, because the items on your credit report we’ve seen them, but it’s the other stuff that can create a hiccup at the 11th hour and that’s what we want to avoid.

So if there is anything in your financial picture that you think, oh, maybe that isn’t on my application, let’s talk it out and ensure we have the most accurate financial picture.