Credit Don'ts While in the Mortgage Process

By
Mortgage and Lending with NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 IL Lic 031.0006220/WI
https://activerain.com/droplet/4qMQ

Entering or Currently Navigating

the Mortgage Process?

 

Don't Even THINK About it!

 

Follow the warnings found on my Flyer below

 

    

     If hoping to Buy, Build, or Refinance a Home in the greater Chicagoland area, please contact me!  I'll put my 37 years of mortgage experience and expertise hard to work on your (or your client's) behalf.

     Thank you!

 

Gene Mundt

Mortgage Lender  -  NMLS #216987  -  IL Lic. #0006220

American Portfolio Mortgage Corp.

NMLS #175656

Direct:  815.524.2280

Cell/Text:  708.921.6331

eFax:  815.524.2281

gmundt@goapmc.comwww.genemundt.com

Click HERE for a FREE Mortgage Quote!

Your Referrals are Greatly Appreciated!

 

Posted by

  

 Twitter Account of Gene Mundt, Mortgage Lender   LinkedIn Account of Gene Mundt, Mortgage Lender   Facebook Acct. of Gene Mundt, Mortgage Lender   Pinterest Acct. of Gene Mundt, Mortgage Lender   

Gene's Chicagoland Blog/Gene Mundt, Mortgage Lender   

 

  

 

 

Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                 IL Lic. #031.0006220  -  WI License #216987                                                                                                    

NMLS #175656

 

Gene Mundt, Mortgage Originator,  40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin. 

 

Your Referrals & Testimonials are Always Greatly Appreciated! 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Lending / Financial
Location:
Illinois Will County Joliet
Groups:
Realtors®
Mortgages
Buyer Information - What Buyers Need to Know in Today's Market
Advice for Buyers
Bananatude
Tags:
credit
mortgage advice
finances
credit advice
mortgage process
credit dont while in mortgage processing
mortgage credit preparation

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
191,077
Ted Glover
Alderman Classic Realty, LLC - Moultrie, GA
ABR in Moultrie, Georgia 229-854-5422

Hi Gene Mundt, Chicago-area Mortgage Lender - www.genemundt.com 

Its a very good DON'T DO list if you are wanting to buy a home.

These items will stop the process and may stop anyone from getting a loan approval. Have a great weekend Gene.

Nov 07, 2014 05:11 AM #2
Rainmaker
1,229,723
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Woohoo, Tammy Lankford!  Love hearing it ... thank you so much!  Glad you like the list ...

Thanks, Ted Glover!  Totally agree ... hopefully the list will keep many from doing these "no no's" ...

Gene

Nov 07, 2014 05:16 AM #3
Rainmaker
1,026,990
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

Really good list!  Do you mind if I post it to my real estate FB page?

Nov 07, 2014 05:42 AM #4
Rainmaker
1,026,990
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

Oh, I just saw Tammy's comment - duh - so I am going to post to Pinterest and FB.  Thanks!

Nov 07, 2014 05:43 AM #5
Ambassador
3,801,573
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Gene good list.  Anyone of those don't can send the mortgage process into a tail spin quickly.

Nov 07, 2014 06:32 AM #6
Rainmaker
1,229,723
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Susan Haughton ... I LOVE knowing that you thought it worthy of posting!  Thank you.  And thank you for the posting elsewhere too ...

George Souto ... Yep .. it sure will.  I don't need to tell you ... we hate to see it, don't we??

Gene

Nov 07, 2014 07:12 AM #7
Rainmaker
2,256,511
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Gene. I have gotten to the point of going over each item on the list I use, most folks listen, others not so much. The list you use is very good.

Make it a great weekend!

Nov 07, 2014 06:19 PM #8
Rainmaker
3,253,144
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Outstanding list and should be at the top of every new buyer's package.

Nov 07, 2014 07:00 PM #9
Rainmaker
707,179
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Yes Gene, The very best advice for getting a loan is to hold your breath and don't move until the loan is CLOSED.

Bill Roberts

Nov 07, 2014 11:05 PM #10
Rainmaker
1,229,723
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

We try to be as inclusive as possible with our lists, Joe Petrowsky ... in order to save our clients from troubles and issues arising.  As you say, sometimes it works better than others ...

Definitely one that I make available, Sally K. & David L. Hanson ... and have available for their use and viewing in multiple places!

Gene

Nov 08, 2014 06:45 AM #11
Rainmaker
1,229,723
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

That pretty much sums it up, Bill Roberts.  With some you hear a very loud sigh of relief after Closing too ...

Gene 

Nov 08, 2014 06:46 AM #12
Rainmaker
520,452
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Gene Mundt, Chicago-area Mortgage Lender - www.genemundt.com - hadn't thought about changing positions within a company during that time, or even commission structure. But, yes, they do affect your income and could be confusing to a lender.

Nov 08, 2014 10:29 AM #13
Rainmaker
1,229,723
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Certainly a list born of experience and rising from situations in the past, Hella M. Rothwell ... I've tried to cover those things that have occurred or I've been questioned about in the past.  And having a track record ... a provable track record ... is vitally important ...

Gene

Nov 09, 2014 12:04 AM #14
Rainmaker
456,036
Shannon Milligan, Richmond VA Real Estate Agent/Associate Broker
RVA Home Team - Richmond, VA
RVA Home Team - Winning with Integrity.

These are great tips of what people should NOT do when under contract and trying to obtain a mortgage. One I think people often don't realize is not closing accounts. Many would think it is the opposite so important to educate!

Nov 10, 2014 02:55 AM #15
Rainmaker
1,229,723
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

So true, Shannon Milligan, Richmond VA Real Estate Agent ... I had a client do just that a few weeks ago.  Even after repeatedly telling them NOT to.  Ugh!!!  I keep trying to get this message out!

Gene

Nov 10, 2014 08:34 AM #16
Rainmaker
842,517
Barbara Altieri
Kinard Realty Group - RealtyQuest Team, Fairfield and New Haven County CT Real Estate - Shelton, CT
REALTOR-Fairfield County CT Homes/Condos For Sale

Gene -- Love this chart. You just can't repeat this enough. Still.... buyers make mistakes.

Nov 11, 2014 06:26 AM #17
Rainmaker
1,229,723
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

All too true, Barbara Altieri ... so we keep trying, right??  Thanks for the thumbs-up ...

Gene

Nov 11, 2014 06:49 AM #18
Rainmaker
846,015
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Hey Gene-these are all points that need to be followed to make those loans happen!

Nov 13, 2014 07:31 PM #19
Rainmaker
1,229,723
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Marco Giancola ... definitely!  Hoping if they're written down, it will help!

Gene

Nov 15, 2014 01:12 AM #20
Rainer
45,269
Brian Quigley - 720-524-3215
The Mortgage Network NMLS#244003 - Denver, CO
COBROKER1 - NMLS#244003 The Mortgage Network

Good tips Gene, thanks for sharing!

Nov 15, 2014 04:48 AM #21
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
1,229,723

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience
Contact Me For Mortgage Answers, Info & Assistance:
*
*
*
*
Spam prevention

Additional Information