Your Questions About Check My Mortgage

Ruth asks…

Do mortgage companies check your credit right before closing?

If I am about to close on my house, will the mortgage check my credit again?

admin answers:

They sure will. That’s why your loan officer instructed you not to make any large purchases (new car, furniture, etc.) before you close on your loan. They will run a new credit report the day before settlement to be sure all is still in order.

John asks…

How to check a mortgage fraud?

I’m suspicious about someone having a fraudulent mortgage in my name. Is it possible to see that mortgage in your credit history? If so, how do you check it? I checked my free once a year credit report but couldn’t find any information. How do you check if you a mortgage or not?

admin answers:

It would appear on your credit report.

Paul asks…

who can i ask to check my mortgage papers after I bought the house who is cheap?

I bought a house after a year and my neighbor was telling me how she found lots of mistakes in her morgage paper and we have the same lender. So who can i find to check and look over my morgage papers for me? Her friend wants to charge me 100 an hour which is too much? How can i get a good one but not at too much cost?

admin answers:

Call some real estate attorneys. Tell them that you want them to review the paperwork for the mortgage and you want that done for a fixed fee, and for them to give you the list of problems.

See if any bite. It is the marketplace, perhaps some lawyers will do it for $100 flat?


Steven asks…

Is credit check required to renew a mortgage?

Do mortgage specialist check your credit score before you qualify to renew a mortgage? My renewal date is in August but my credit score is not good. Please advise. thanks.

admin answers:

Yes of course they will, and they can refuse.

Sandra asks…

What exactly does a mortgage appraisal check?

The appraisal from my bank from which I am getting a mortgage told me the appraisal came in at the purchase price. It seems weird that the appraisal would be exactly the purchase price. Can someone please explain?

admin answers:

The appraiser would have gathered three comparable properties that have recently sold and reconciled a value based on these comparables. It sounds as if you purchased your home at market value. In other words, you didn’t pay too much and you didn’t pay too little. You paid what any prudent purchaser would have paid for your property. Also, if you purchased in a new subdivision, this process would have been easy as pie for the appraiser as many homes similar to yours would be available for comparison.

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