Or don’t die or get divorced or lose your job or have a fight with your co-signer or buy a car until your home purchase has completed!  These important events could encourage your mortgage lender to refuse financing on your new home, even after you’ve removed all your conditions. They would consider that you’d changed the qualifying terms of your agreement.

If you find yourself in one of these precarious situations, first run to your lawyer for advice. (If you’ve died, that might not be too practical!). Your lawyer may advise you to inform your bank or mortgage broker or to hold off on that car or motorcycle or to check with your Realtor to see if the sale can be delayed or to consult a different lender who might be more lenient.

Lois D.