It's that time of year again. No, not the holiday season. I mean, it IS the holiday season but I was actually talking about open enrollment. The joy of signing up for Obamacare! After seemingly endless hours of research and comparison shopping, I find a plan for my family and sign up. At a certain point in the process, I am asked if I am willing to let the powers that be examine my tax returns for the next one to five years.
I am a bit taken aback...leery even. How dare they?! It feels so invasive! No decent organization would ask for such delicate and private information, would they? WAIT! Credit card companies do that all the time! So do lenders! Whether you are borrowing money for a car, RV, home (gasp!)...now we are talking real estate! This is hitting pretty close to home!
(Sigh) Okay, I guess it is pretty much the same as what mortgage lenders do. Credit is checked. Income is verified. Calls are made for explanations of unusual account histories or trends. It is called due diligence and it is a good practice for anyone, whether a lender, home buyer or Obamacare shopper.
As a home buyer, one needs to be prepared for such examinations because they are, quite simply, part of the process. It's nothing personal, no matter how personal it feels. Do Your Due Diligence. Know your credit. Know what you can and can't afford. Perhaps even meet with a credit consultant or financial advisor to make sure you are where you need to be.
If you want to know more about preparing to purchase a home (or if you are an Obamacare expert), please contact me.
Jeff Dehmlow is your real estate caddy! Call Jeff--or text him--at 612-803-7060.
Author:Jeff Dehmlow Phone: 612-803-7060 Dated: December 13th 2014 Views: 376 About Jeff: ...
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Mojica & Associates Real Estate has over 55 years of combined real estate experience here in the Valley. Concentrating on evolving trends in a rapidly growing market, we specialize in finding the perfect opportunity for first time buyers, families looking to upgrade their home, 2nd home buyers and investors. Whether you are looking for the perfect place to hang your hat or finding qualified buyers to purchase your current property at top market prices, we can get it done for you.
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Can you believe how fast this year is passing by?! I recall telling my
"Vic did an excellent job in getting the house that I wanted. He kept me updated with the status of the house and what was going on with the seller and got me my house with no issues and he even helped me find contractors to do tile work, painting, and granite installation at a very reasonable price since they were all people he had work with on previous jobs. He even took the time to come and check up on the jobs that were being done during the renovation process since I lived out of town. After a year and a half had went by he was kind enough to contact me and let me know that the property values around my area were shooting up and advised me on refinancing to get rid of my PMI since I had an FHA loan I was able to refinance and get a conventional loan which dropped my house payment by $150 a month. I would greatly recommend Vic to any of my friends or family or anyone looking into purchasing a home or selling a home. He does a fantastic job and even after the job is completed he will continue to work for you by letting you know any updates with the real estate market around your home and offer you great advice."