full doc: How Can a Buyer Avoid Identity Theft Related to a Full Doc Loan? - 01/26/10 12:41 PM
I recently posted a detailed explanation of what a buyer can expect when he/she is required to do a full documentation of his/her income, debts and assets. Here is a link to that blog: Lisa's activerain blog on Full Doc.
So the client hands over copies of their social security card, driver's license, taxes, bank statements including their name and full account number on there. They have to lay open their whole financial life, so now this information is "floating around out there." One of my clients recently was about to pull out of a loan because they wanted her line-item … (2 comments)
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full doc: What Does It Mean to You, the Buyer, that You Have to Go "Full Doc" - 01/18/10 11:30 AM
Over the past year, lending guidelines have tightened so much that, if you're paying attention at all you know, buyers have to qualify "full doc" for loans. That means, full documentation of the buyer's income, debts, and assets. If you want more detail than this, feel free to call me at 951-704-4559 or email me, Lisa@DelzompoHomes.com.
It is to the point that I provide my clients an overview letter, explaining the buying process in detail, including the fact that you're going to be asked for information up front, during, and at the end of the loan process.
That sounds straightforward, but let's … (1 comments)
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full doc: What Does It Mean to You, the Buyer, that You Have to Go "Full Doc" - 01/14/10 03:52 PM
Over the past year, lending guidelines have tightened so much that, if you're paying attention at all you know, buyers have to qualify "full doc" for loans. That means, full documentation of the buyer's income, debts, and assets.
It is to the point that I provide my clients an overview letter, explaining the buying process in detail, including the fact that you're going to be asked for information up front, during, and at the end of the loan process.
That sounds straightforward, but let's take a look at what that means. First, keep in mind that if you provide an item … (30 comments)
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