We are set to close on our house on March 24th. I know the lender will run another credit report prior to closing. Does anyone know how close to the closing date they will run this report? Is it weeks before or days before? Any experience with this? Thanks.
Hubby refinaced our rental property and I was afraid as well, because Efx decided to reinsert 3 previously deleted collections last Thursday when he was due to close Friday, last time they pulled his report was Feb 1 he ended up closing today, no new report pulled. So we lucked out, I on the otherhand, when I closed on our refi last year on our home, GMAC pulled day before closing, I think it really just depends on the lender.
I wonder why so close to closing. I can't believe they would kill the deal with the house keys hot off the press because of your credit report. I can understand a month before but days? Doesn't make sense to me.
They wouldn't kill the deal but they would definetly delay closing and push the closing date up. This has happened to my sister in law with an old charge off she has disputed off the with the CRA and Equifax re-inserted it without any notice. She had to pay the charge-off and close 1 week later. They pulled 2 days before closing. If I were her I would haved sued Equifax big time for the mess up!! Tac
Re: Re: CR before Closing To make sure there have been no last minute changes to your finances that might affect your ability to pay the mortgage. That is why most lenders tell you not to charge anything, nor run out and buy a bunch of furniture or a new car for the garage on credit until after you close. I've seen the deal killed.
Re: Re: CR before Closing I retract this statement, after checking Efx today, I noticed that a mortgage inq. was pulled yesterday, the day that hubby closed.
