#60 Being Sure of Your Own Details

Sometimes what we believe is simple and obvious can turn out to be anything but!  Here you are, ready to start the process of pulling together lots of data:  documents and records of all kinds for your Mortgage loan application.  ...no worry, piece of cake!  Really?

Professionals I have known over the years, almost without exception, all have stories about client documentation compilation that are pretty hard to believe – and some even funny!   One of mine involved a woman who wasn’t sure if she was really divorced!   Don’t laugh too hard -- it was just one more of the many things that her former spouse handled...and she just wasn’t sure.

Getting your hands on the vital information that is critical to your Mortgage loan potential can sometimes be tricky.  Of course, there are exceptions in both directions -- those who are meticulous to a fault and have everything filed and labeled and close at hand.   Then those who insist:   “...I know I have it here... somewhere...”

All that information (carefully filed or” somewhere”) comprises the profile with which you will approach realizing that dream of a home of your own.   Beginning to pull things together can be a bit tedious, but it is also the start of the excitement!  The records of your path, tell the story of where you have been, how you have handled financial matters, what you have achieved, what your education produced for you, what your relationships have been and now are – and much more.  All of it together helps you and your Mortgage loan Officer plot the way forward.  One of the benefits is just getting that “picture” pulled together in a way you may never have done before, and seeing the patterns and details of your pragmatic life in a new context.

There will be things to locate!  There may be Certified documents to secure.  There may be financial records to track down or dig for from the garage rafters, attic or storage sheds! Perhaps you are a person who just didn’t hold onto a lot of “stuff.”   (You know; regularly discarding extraneous paper, receipts, etc., that don’t seem worth keeping?)   You just might have to do some research, some contacting and some reconstruction!

Of course we know the details of our own lives!  But developing those details in that new context, to target a large, important and specific goal, might be an entirely new experience.  In my practice, I have repeatedly watched that organizational project bring a lot of unexpected satisfaction – and confidence –to a client!  In a way it imparts a feeling of being grounded, and ready for the challenge of home ownership.

So, if you are one of the very organized and don’t anticipate difficulty getting the details in order to present to your Mortgage loan Officer, is there anything else you need to do concerning details?   Yes.  As you organize your information for your loan application, make sure that it will be clear and understandable for a third party.   (Be sure to protect significant “originals” by making copies for external retention.)

If you are a person not quite as organized as some of those “neat freaks!” we all know, now’s a perfect opportunity to pull it together!  As long as you do know you have it somewhere, the task is yours to hunt it down and, with the help of your Mortgage loan Officer, you will together identify what’s needed, in what form and with what certification or notarization or authorization!  When you have located and presented the relevant raw material, your professional Mortgage loan Officer will guide you through the rest of the process!

And there are fringe benefits:  When you are sure of your own details, you will be more secure and confident of being on the right track toward that dream!