Posted on: 03rd Jun, 2013 12:41 am
We are in the home buying process and we bought a car 2 days back. I am about to close my home in the coming week. After I got the car, the realtor says that we should cancel the car deal or the loan closing will be flagged. Did we really mess up? What do we do?
Hi Veron,
Yes, you have actually messed up the whole situation. It is an unwritten rule that you should not go for any big loan 6 months prior to taking out a mortgage. You should now listen what your realtor says and manage things accordingly.
Thanks,
Jerry
Yes, you have actually messed up the whole situation. It is an unwritten rule that you should not go for any big loan 6 months prior to taking out a mortgage. You should now listen what your realtor says and manage things accordingly.
Thanks,
Jerry
The lender uses an exact number to calculate your expenses. Now that you have purchased a new auto with a high new payment, you may or may not qualify for the loan. Contact your loan agent asap to see if you can still qualify. If not get rid the car.
