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Buy that Ring or Buy that Home
Buy that ring or buy that home? Well if it is not an engagement ring, it might be that new sports car or SUV that captured your attention and just took that dealer loan out.  What did your loan officer tell you months ago about avoiding changes to your financial situation during your mortgage loan process period? You did hear the loan officer when he said what not to do prior to closing on your mortgage?     Yes, you say, but you already applied for the mortgage so what's the difference? Anyway you just had to buy the ring because your fiance expected it.  Hmm, you really did not hear your loan officer did you.  No changes, means no changes if you want to get to the closing table and buy that new home.  You as the buyer have already botched your chance for now of procuring that mortgage commitment letter.  No buying right now.  Honestly, a paper cigar band might have worked half as well instead of the diamond for that wonderful lady?! See the lender's underwriters do not like to see big changes in your credit right now.  Especially NOT an engagement ring on your credit card .  It ... more

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