Posted on: 30th Jul, 2012 08:21 pm
I closed on a purchase of a new house recently. Just a day or two before the closing I opened a store credit card to get a discount on some home furniture. The closing happened fine without any events.
I saw in the closing documents that my credit was rechecked 2 days before the closing (which was before I opened the store card), and it was roughly the same as what it was when I had originally applied.
After the closing I got a bit nervous that I did something wrong. I read somewhere on the internet that this may cause problems for me, the fact that I did not "disclose my debts" to the lender. Can the closing be revoked? Can I be sued? What is my best course of action?
I have pretty good credit (about 740), and the mortgage is very comfortably within my means.
I saw in the closing documents that my credit was rechecked 2 days before the closing (which was before I opened the store card), and it was roughly the same as what it was when I had originally applied.
After the closing I got a bit nervous that I did something wrong. I read somewhere on the internet that this may cause problems for me, the fact that I did not "disclose my debts" to the lender. Can the closing be revoked? Can I be sued? What is my best course of action?
I have pretty good credit (about 740), and the mortgage is very comfortably within my means.
Hi Guest!
Welcome to forums!
If the loan has already been closed, then I don't think there would be any problems. I don't think the closing will be revoked.
Sussane
Welcome to forums!
If the loan has already been closed, then I don't think there would be any problems. I don't think the closing will be revoked.
Sussane
Hi Guest,
It is always recommended that you don't take out any credit or open any new card just before the mortgage closing. This may have a negative impact on the loan.
It is always recommended that you don't take out any credit or open any new card just before the mortgage closing. This may have a negative impact on the loan.
Thanks all for the replies!
The closing already happened, and everything was fine. I was just worried that the lender will do another credit check now and then claim that I didn't answer the questions correctly, and then do something like take back the loan or sue me.
Another possibly relevant fact: even after the closing,
my bank account contains much more money than the limit of the credit card.
The closing already happened, and everything was fine. I was just worried that the lender will do another credit check now and then claim that I didn't answer the questions correctly, and then do something like take back the loan or sue me.
Another possibly relevant fact: even after the closing,
my bank account contains much more money than the limit of the credit card.
Hi Guest!
Welcome to forums!
Congratulations!! :) As the closing is complete, you don't have to worry further. Things will be fine.
Sussane
Welcome to forums!
Congratulations!! :) As the closing is complete, you don't have to worry further. Things will be fine.
Sussane