Celebrity News May 17, 2011
Corbett's House-Hunting Tips: Buying a Car Could Kill Your Deal
Best-selling author, real estate expert and "Extra's" Mansions and Millionaires host Michael Corbett gives you some hot tips on the best ways to buy a home -- all from his new book, "Before You Buy!"
This week's tip:
Don't change your financial picture right before a home purchase. While you are seriously home shopping, don't make any big purchases on credit. Don't buy a car or purchase an expensive vacation. Any significant purchases will alter your financial picture, and the banks don't like to see sudden changes just before issuing you a loan.
Be aware that positive changes -- such as paying off balances on all your credit cards -- won't immediately show up on your credit report. It may take months for those newly low balances to boost your credit scores. So plan ahead -- even once the bank has run a credit check and you have been approved, they may decide to do a final re-check.
Wait to make any big financial moves until after you own the house.
For more tips and guidelines, check out Corbett's book "Before You Buy!" on Amazon.com.
Visit Corbett's official website and Facebook page!
