How mortgage problems unravel home deals

mortgage

mortgageBy Linda Prevost | The New York Times

On the road to homeownership, the stretch between an accepted offer and the closing is fraught with detours that can leave buyers in a ditch. While no deal is a certainty until the last signature is applied, buyers can take some preventive steps to help ensure their purchase stays on track.

One of the most common reasons deals derail in today’s markets is failure to disclose key financial information. Borrowers should be absolutely forthright about their financial circumstances when seeking lender pre-approval for a loan. The strict regulatory environment does not leave much room for surprises.

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