pre approval credit underwriting pre qualification: Is the pre approval in your hands junk? 5 questions to ask
- 04/05/11 12:15 PM
Yesterday I was conducting a class to a group of Realtors on credit and credit reports for continuing education credits. The subject of pre approvals came up and how worthless they can be. If you ask your lender the following questions you should be able to determine if your pre approval is valid or junk. This can save you a lot of time and a lot of heartache. •1. Did you run a credit report? •2. Did you see their pay statement (or income taxes if they are self employed) •3. Did you see their bank statements (if the pre approval … (2 comments)
Yesterday I was conducting a class to a group of Realtors on credit and credit reports for continuing education credits. The subject of pre approvals came up and how worthless they can be. If you ask your lender the following questions you should be able to determine if your pre approval is valid or junk. This can save you a lot of time and a lot of heartache.
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