CREDIT SCORES - It's easy to lose your US credit if you're away for a long time. You're overseas, you pay cash for everything. You sold your home so you have no mortgage payment, you sold your cars, and you have no credit card debt. You've always had credit, right? Beware: if you go too long, your score will drop off the face of the earth and you will be a credit newbie come time to move stateside again.
We just sold a home to a darling family who had credit last summer. Yeap, had a letter approving them for a VA loan and they were coming in the late fall. Life was good. They came, we shopped, we found a great buy, we wrote a contract, we had to get a new lender since it was new construction and guess what? No credit, nada! Evaporated! What??
It took awhile, but we finally figured out that it had just been too long. Fortunate for us, the builder's rep contacted a very creative, out of the box loan officer who worked with an underwriter to create credit for them again. We closed last week. It's a happy ending for this family.
You may not be so fortunate if you don't have a loan officer like Patrice. Another lender had already given up. Protect your good credit by using at least minimal credit while overseas. You'll be glad you did when you come back home and want to purchase a large ticket item like a home or a car.
DRIVER'S LICENSE - Don't let your license expire when you're overseas. Before you leave, check with the state you are licensed with to find out how you can renew overseas. If you get an international license and show it to the state when you come back, you may have to take the entire driver's course again. You want to show your US license, not an international one - at least not in Florida. Laws are changing constantly. Be sure you are up to date on the requirements for a license in the state where you have yours.
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Want to know more about fabulous Orange Park FL and Fleming Island FL in the Jacksonville FL area? Email me at sharon@teamalters.com or call 904-673-2308.
Visit our website at www.teamalters.com for all Orange Park FL, Fleming Island FL homes in the greater Jacksonville FL area.
Original Photography, All Rights Reserved. *Military Relocation - Don't Lose Your Credit or Your Driver's License While Overseas *
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