The Groves Team

Earnest Money Deposit (EMD) Clearing

First off, what exactly is a Earnest Money Deposit? Do you remember writing that check and handing it to your Realtor when your offer was accepted? That's your "skin" in the game. That check is your Earnest way of saying that you intend on buying that property. This deposit IS refundable if you deci ...
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Opened a new trade line?

So you opened a new credit card, bought a new car or did something else that will effect your credit and or debt to income ratios. If you opened this account within the past 45 days, chances are that it will not be reporting on your credit report yet. This can be a problem if you are trying to get Pre-Approved, or are in the middle of a mor ...
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Funny Office Happenings!

Just in time for the holidays, Valerie tries to take a great picture  with Lilly....well you'll have to watch the rest!
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Beware of the rules of Lending, 1 of 12 Jobs.

They may be ridiculous, irritating and challenging, but if you don’t heed these warnings and you break the rules, your loan could be DENIED AT THE LAST MINUTE! DOs and DON’Ts During The Loan Process 1. DON’T CHANGE JOBS ...or even worse...QUIT!!  The lender is going to verbally veri ...
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Beware of the rules of Lending, 2 of 12 Moving Money

DON’T TRANSFER MONEY FROM ACCOUNT TO ACCOUNT—  Please put your money for your down payment and or closing costs in ONE account and leave it there, and the sooner the better please. DO NOT keep transferring back and forth between checking and savings, this is especially true if it is two separa ...
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Beware of the rules of Lending, 3 of 12 New Credit

DON’T APPLY FOR ANY NEW CREDIT—Resist that new set of knives or the 15% discount you will get if you open a new account!! The lender will refresh your credit report right before they fund the loan and Lord help you if new credit inquiries show up on that report!  You are going to have to ju ...
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