The New Landlord/Tenant Law: Dispelling the Ugly Rumors - Wisconsin REALTORS® Association

The New Landlord/Tenant Law: Dispelling the Ugly Rumors - Wisconsin REALTORS® Association

The New Landlord/Tenant Law: Dispelling the Ugly Rumors

By: Debbi Conrad

The new landlord/tenant and eviction measures contained in 2013
Wis. Act 76, which for the most part does not go into effect until March
1, 2014, have attracted a lot of attention in the media and in the
rumor mill. Misguided and exaggerated reports abound proclaiming that
this legislation will be very harmful to tenants and will trample their
rights. To set the record straight …

Eviction notices will be mailed so tenants will not know they had a court date

Amendments to Wis. Stat. § 799.12 provide that any circuit court
may enact a rule authorizing the use of certified mail for the service
of the summons in an eviction action. Any such court rule must require
certified mail with return receipt requested. Service of the summons is
considered completed when it is mailed, unless the envelope enclosing
the summons has been returned unopened to the clerk prior to the return
date. Thus tenants will sign the receipt for the eviction summons, or it
will go back to the court if the tenants do not accept the mailing and
the court will know there has been no service.

Sheriff’s deputies are not required to be present during an eviction

The landlord delivers the writ of restitution ordered by the court
to the sheriff and pays the applicable fees, and then the sheriff
executes the writ. The sheriff always comes to remove the tenants and
any other persons found at the premises. The amendments to Wis. Stat. §
799.45 allow the landlord to elect to remove the tenant’s personal
property and store or dispose of the property — the landlord need no
longer warehouse the tenant’s property. Upon notice to the sheriff, the
sheriff will assist and supervise this removal and handling of the
tenant’s personal property.



REALTOR^® practice tip: Given the
volatility and unpredictability of eviction situations, the prudent
landlord will have the sheriff stay on the premises to supervise the
removal of tenant personal property following the eviction of the
tenants.

Notice that landlords may dispose of personal property may be given the day the tenants are moving out

Landlords and property managers no longer have to store personal
property left behind by tenants. Wis. Stat. § 704.05(5) provides that
landlords may presume that the property that the tenants leave behind is
abandoned and may dispose of it in any manner that the landlord
believes to be appropriate, if and only if, the landlord first has
provided written notice to the tenant. Notice must be given in the
original rental agreement or a renewal and must indicate that the
landlord will not store any personal property the tenant leaves behind
when the tenant is removed from the premises. These notice dates would
not occur on the day a tenant moves out.

Landlords can throw away a tenant’s abandoned belongings

Beginning with evictions filed on March 1, 2014, the landlord no
longer needs to warehouse the evicted tenant’s personal property and may
dispose of items left behind by placing them in the dumpster, donating
them to charity, selling them or by another appropriate disposal method.
The tenant or any secured party has the right to redeem the property at
any time before the landlord has disposed of it or entered into a
contract for its disposition, by payment of any expenses that the
landlord has incurred with respect to the property. This provision does
not provide that the landlord can simply throw away the tenant’s
personal property when the tenant still has possession of the premises.
The handling of personal property takes place only after the tenant has
vacated the premises or been evicted by the sheriff.



REALTOR^® practice tip: The ability to
presume the property is abandoned and subject to the landlord’s judgment
as to proper disposal after the eviction of the tenant does not come
into play automatically. The landlord must have given the required
notice to the tenant when the tenant entered into the rental agreement,
or upon renewal of the rental agreement.

The legislation allows domestic abuse victims to be evicted

Wis. Stat. § 704.16 — on the books since 2008 — provides that a
tenant may terminate a tenancy when there is an imminent threat of
serious physical harm to the tenant or the tenant’s child and the tenant
provides the landlord with proper notice and documentation. Under Wis.
Stat. § 106.50 (5m) (dm), which has been in effect since December 2009, a
tenant who is a victim of domestic abuse, sexual assault or stalking
has a defense to an eviction based on the commission of one of those
acts if the tenant proves that the landlord knew or should have known
that the tenant was a victim of the aforementioned crimes, along with
other criteria.


The new Wis. Stat. § 704.14 provides that a residential rental
agreement must include a Notice Of Domestic Abuse Protections in every
rental agreement or an addendum to the agreement, beginning with rental
agreements entered into or renewed on March 1, 2014. The mandatory
language of this notice educates everyone and heightens tenants’
awareness of their existing rights.

Tenants are automatically liable if bedbugs are found

Wis. Stat. § 704.07(3) now states that if the tenant’s actions or
inaction leads to damage to the premises, or results in an insect or
pest infestation, then the landlord may allow the tenant to repair and
remediate the damage, or the landlord may do so and require tenant
reimbursement of all reasonable costs. If the landlord can prove that
the infestation was caused by the tenant, the tenant is responsible for
all eradication costs and other damages. This does not eliminate the
need for the landlord to prove that the tenant caused the infestation.

Landlords can withhold money from security deposits without notification

Wis. Admin. Code § ATCP 134.06(4) continues to require that the
landlord deliver a written statement to the tenant accounting for any
amounts withheld from a security deposit. The statement shall describe
each item of physical damage or other claims made against the security
deposit, and the amount withheld as reasonable compensation for each
item or claim. No modifications in the new law alter this result.
Illegally parked vehicles will be towed without any verification regarding whether the vehicle was stolen


The new provisions allow for the immediate towing of vehicles
illegally parked on properly posted private property upon the request of
the property owner or agent. A parking citation need not first be
issued. The posting must be clearly visible and warn that non-authorized
vehicles will be immediately towed. The towing service must notify
local law enforcement of the model, make, vehicle identification and
license plate numbers of the vehicle being towed as well as the location
to which the vehicle will be removed. The towing companies cannot
remove a vehicle if law enforcement advises that the vehicle is stolen.
The Department of Transportation will develop rules regarding the
reasonable charges for removal and storage of vehicles, the form and
manner of display of a notice necessary to qualify a property as
“properly posted,” and guidelines for towing services’ notification to
law enforcement upon removal of a vehicle. That is why the provisions
for the towing of vehicles illegally parked on posted private property
will not go into effect until July 1, 2014.


At the end of the day, elimination of unnecessary delays and
expenses helps alleviate some the landlord’s extra costs and lost income
involved each time a tenant gets into trouble and is unable to meet the
terms of the rental agreement. Allowing a bad tenant to remain in an
apartment without paying for the housing increases the landlords’ costs,
which often result in higher rents for the good tenants — an outcome
that benefits no one.

Debbi Conrad is Senior Attorney and Director of Legal Affairs for the WRA.

Published: February 05, 2014

Wisconsin Awards Celebration a BIG Success Congrats to Kristin Johnston, REMAX REALTY CENTER

Wisconsin Awards Celebration a BIG Success

Congrats to Kristin Johnston - Kristin was an EXECUTIVE CLUB Award recipient.

Kristin has been in real estate since 2000. She started private real estate investing in 2000, and enjoyed it so much, she decided to get her license and make it a career. She really enjoys working with both buyers and sellers alike. Kristin practices real estate throughout all of SE Wisconsin, but primarily focus on Waukesha County Real Estate and Milwaukee County Real Estate.

If you take the time to check out her website -- her testimonials by past customers give a true picture of the type of person she is. www.kristinjohnston.com. In her words "I believe this is probably the best way of finding out who I am, my work ethic, personality, etc. I enjoy working in real estate and truly find it to be a rewarding business."


--Kristin is a Waukesha Buyer's Agent and has her ABR Designation (Accredited Buyer's Representative). She is also an IRES Designation (International Real Estate Specialist). So, she can help you with your real estate needs throughout the world!

---Kristin expertly handles sales and listings of single family residential, condos, vacant land, and investment properties

Kristin says "I enjoy being a part of one of the biggest, if not the biggest, financial decision in a client's lives. They trust my expertise and professional opinion, and I work hard to keep everything moving along smoothly in the process. I am there with my clients every step of the way...from helping them getting preapproved for a mortgage loan, to the closing table. I pride myself on being organized, and very responsive to my client's needs. After all, timeliness can make the difference in a client getting their dream home!"

Kristin is the youngest of 6 kids, three brothers and two sisters. She is an identical twin. Family is very important to her. She will tell you "I chat or email my twin sister at least 20 times a day--we are super close! My parents and rest of family live in Sheboygan, and I enjoy seeing them every chance I get."

Kristin went to Marquette University and majored in Business, International Business, Human Resource Management and Spanish. Interestingly, she lived and studied in Spain and have traveled throughout Europe. She is fluent in Spanish.

Kristin is a HUGE animal lover and activist too. As part of her Give Back Program, she is happy to donate to an animal shelter or rescue in her clients name upon closing.

Congrats Kristin!

Wisconsin Awards Celebration a BIG Success - Congrats to Caroline O'Brien. 100% Club

Wisconsin Awards Celebration a BIG Success - Congrats to Caroline O'Brien. 100% Club

100 % Club Members earn an income of between $100,000 and $250,000.  

Come this May, Caroline will be in real estate for 21 years. Much of Caroline's business comes from referrals -- satisfied clients that have been more than pleased for over 21 years.

Caroline expertly handles sales and listings of single family residential, condos, investment properties in the Lake Country, Waukesha, Dodge, Jefferson, Washington Counties, Great Milwaukee Area and Southeastern Wisconsin.

Caroline says: "Being raised in a family with 3 handicapped siblings, I acquired a natural feeling to be there to help others. After purchasing my first home, I realized how much I enjoyed touring homes and came to the conclusion that helping others purchase real estate would be a very rewarding profession. And it has as I have enjoyed making many new friends dreams come true along the way."

"I'm a full-time Professional Realtor committed to my career. Satisfied customers and clients make my business more enjoyable. I listen closely and feel a personal responsibility to my clients and customers needs and persevere until their desires are fulfilled."

"I have a genuine concern for each and everyone I work with. My top priority is your happiness. The keys to my success are my enthusiasm, dedication to honesty, service, commitment, perseverance and the determination to make your real estate dreams become a reality. I welcome discussing the opportunity of extending my energies toward achieving your real estate goals. You deserve the services of a proven professional."

Hats off to you Caroline for such a fantastic year -- from the looks of it 2014 is going to be equally as good for you!

Wisconsin Awards Celebration a BIG Success - Congrats to Larry Stanul

Wisconsin Awards Celebration a BIG Success

Congrats to Larry Stanul - Larry was an EXECUTIVE CLUB Award recipient. Larry has been a Broker- Associate with REMAX Realty Center - Real Estate in Wisconsin for 10 years.

Larry is a Residential & Commerical Agent in Waukesha, Washington, Milwaukee, Waushara, Waupaca, Racine, Jefferson, Dodge and Ozaukee Counties.

Larry transitioned into real estate from a long and successful banking career. He helps people in all walks of life achieve their real estate goals.

Larry will go the extra mile to assist you. INTEGRITY. As Larry puts it, "I always want you to have that warm, fuzzy feeling after our dealings. What would you rather have in your hand? Tacs or Cottonballs? You decide."

If you ask Larry about his job --- this is what you will get. "I enjoy what I do. I have always believed that if you like/love what you are doing, the end result will be success. Both monetarily as well as gratifying. I get a real peace after a successful closing knowing that I had something to do with that client fulfulling their home ownership dream.

Congrats again Larry on a great 2013 sales year and lets see you top it in 2014!

Best Local Spots to Sled and Toboggan

So you say you are ready for lots of snow and outdoor fun. Well, bundle up, get your sleds, saucers and toboggans ready and bring it on!

Whether you’re looking for the thrills of doing down a more challenging sledding hill or if you want to bring the little ones for some winter fun on a gentler slope, there are plenty of great sledding and tobogganing options available in the greater Milwaukee area and throughout southeast Wisconsin.
Patch has you covered with the following listing of favorite sledding hills in our area:


Whitnall Park – Hales Corners
The main hill at Whitnall Park, 5879 S. 92nd St., near the Boerner Botanical Gardens, comes highly recommended by local residents and is located right next to the golf course clubhouse. This 400- to 500-foot sledding hill is free to the public and also features a toboggan run that is open at various times depending on the weather.  In addition, a smaller hill for little kids sits farther north. The area features plenty of parking in a large lot right off of 92nd Street and street parking is also available. The park also features a club house where sledders can relax and warm up with refreshments available for purchase between noon and 8 p.m.


Currie Park Golf Course, 3535 N. Mayfair Rd. - Wauwatosa
Currie Park features a long, but not too steep, slope that runs down from the north side of the parking lot. The slope is safe and offers great fun for all ages. Speed is only moderate but you can glide a long way, and there are no obstacles. And if the little ones get too cold, you can warm them up in the year-round Currie Park Golf Dome, where a snack bar is also available. The dome is open from 8 a.m. to 10 p.m. daily. You can smack a bucket of balls while the youngsters sled.

St. Mary's Hill (Water Tower Hill) - Milwaukee
St. Mary's Hill, which is located along the lakefront on Lake Drive near downtown Milwaukee, offers an exciting sledding experience. The hill is about 400- to 500-feet long and races at a 40-degree angle toward the bottom. This sledding experience should be reserved for those with more experience as the parking lot is located at the bottom of the hill. Small trees and hay bales prevent sledders from drifting into the parking lot, but these may not provide full protection.

Brown Deer Park – Brown Deer
Brown Deer Park is located on the north side of the city on North Green Bay Road. The park can be crowded at times and offers a short 50- to 100-foot hill. However, the drop is a 50-degree drop, which is larger than some of the other hills in the city. The snow hill is lighted so sledders can use it both day and night during regular park hours.

Lockwood Park - City of Racine.
Located at the corner of Graceland and Ohio,  this park features hills that are steep, fast and fun. The park can be crowded on the weekends and during holiday breaks, especially after a fresh snowfall. The Lockwood Hill is a semi-circle and descends at close to a 45-degree angle into the bottom of a bowl. Ice forms quickly and gusts of wind can be harsh standing at the top waiting to launch, but there is no better place east of I-94.


Johnson Park - Racine
Johnson Park first opened in 1931 and is located at 6700 Northwestern Avenue in Racine. The hill area features free parking and restroom facilities.


Park Arthur - Muskego
A brand new park in Muskego with the city's first sledding hill. Located along College Avenue on the border of New Berlin and Muskego, the hill is the first feature open to the public in this park. Still to come in 2013-14 will be a pavilion and ice skating rink.


LaFollette Park – West Allis
Another part of the Milwaukee County Park system, LaFollette Park is a good sledding hill for younger sledders. The hill is less steep than many of the other sledding hills in the city, which makes it a relaxing, slower ride with a longer walk to the top. This sledding hill is located on the corner of 95th and Washington Streets, just north of Greenfield Avenue. The central location makes this park easily accessible by people from all over the city.


Chapel Hills Park, 6735 S. Highfield Drive - Oak Creek.
Chapel Hills was first developed in 1982 and renovated in 1982. The park is on a 17-acre site, with 12 acres of city land and 5 acres of school district property. The park also includes tennis, sand volleyball and basketball courts.


Caledonia-Mount Pleasant Park – Franksville
Located at 10005 Northwestern Ave in Franksville, Caledonia-Mount Pleasant Park is a 55-acre park that also features playgrounds, pavilions, baseball diamonds and picnic areas.


Manor Marquette Park – Oak Creek
Located at  801 E. Marquette Ave., the sledding hill is part of a 9-acre neighborhood park. 4.2 acres are city land, and the school district owns the other 5 acres. The park was founded in 1983.


Riverton Meadows Park – Oak Creek
Located at 2801 E. Honeysuckle Drive, the park is a 12-acre neighborhood park site leased by the city from Milwaukee County. The park, in the Riverton Meadows subdivision development, was developed in 1995. It also features a swing set, tennis and sand volleyball courts and a baseball field.
Bayside Sled Hill - Bayside
This sled hill is at Bayside Village Hall, 9075 N Regent Rd.,  and is the biggest hill in the village.


Sussex Village Park  - Sussex
Located at CR-VV & Weaver Drive, the park is open daily from sunrise - 11pm with three open air shelters. It's a favorite local spot for sledding.
Sussex is also home to the Ausblick Ski Area on Maryhill Road. The club's operating hours vary depending on snow conditions, so anyone interested in skiing should first call ahead at 262-246-3090 or check the club's website.

Elm Grove Village Park hill - Elm Grove
This sledding hill, located at 136 Juneau Boulevard, gets very high marks and is pretty steep so be prepared!

Calhoun Park - New Berlin
Located at 5400 S. Calhoun Road, this park features two nice hills, both of which can be accessed via the park’s south entrance on Calhoun Road. The park also features plenty of parking between the north and south lots.

Mitchell Park - Brookfield
Brookfield's largest park, located at 19805 W. Capitol Dr. has one sledding hill near the dog run.

Wirth Park - Brookfield
Wirth Park is one of Brookfield's two largest public parks and has two sledding hills. The park is located in the city’s center at 2585 Pilgrim Rd. In addition to the sledding hills, Wirth Park has major amenities including the Wirth Aquatic Center, the Brookfield Jaycees Skate Park and an outdoor ice skating and hockey rink. It counts more than 10,000 annual visitors.


Lowell Park - Waukesha
Located at 2201 Michigan Avenue, Lowell Park's the premier sledding spot for kids, teens and adults in Waukesha. Located near Lowell Elementary School, the park also has a toboggan run – complete with sleds available for rent.


Dewey Hill – Wauwatosa
Located immediately west of the Aurora VNA Zilber Family Hospice at 1150 Honey Creek Parkway, this is a local favorite and definitely worth a trip. Dewey Hill is not an official name, but it's located on county parkland and open to the public. It falls from a ridge with a fairly steep takeoff, and when the snow is packed, it offers a thrilling, speedy start. But it evens out into a long glide that gives plenty of time to slow down before sledders can reach the parkway. It does have a couple of large trees on the slope, the scenes of a few minor accidents. Those worried about small children having collisions should use the west side of the slope. Speed demons and daredevils prefer the east side.


Mee-Kwon Park - Mequon
A golf course in the summer and located at 6333 W. Bonniwell Rd., this park has a popular hill used for sledding. The hill is commonly referred to as Mule Hill.
Hawthorne Hills Golf Course - Saukville
Hawthorne Hills Golf Course, 4720 County Highway I, Saukville, is the second place that converts its greens into white space for the winter. One hill on the course is usable for sledding. Contact Hawthorne Hills Golf Course for more information.


Cedarburg – Three sledding hills
Cedarburg has sledding hills at the following parks:

• Behling Field,  N52W5882 Portland Road
• Centennial Park, W68 N851 Evergreen Boulevard
• Fisher Park, N70 W6110 Bridge Road

The Rock Sports Complex — Franklin
The Rock Sports Complex is 7900 Crystal Ridge Drive in Franklin. The business is working to improve it's offerings, according to a press release, recently addingnew ski equipment, as well as both tubing and snow terrain parks and a completely remodeled ski lodge.
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5 Home Buying Hiccups for Veterans to Avoid

Many home buyers and agents shy away from the Department of Veterans Affairs home loan program for fear that the process is too difficult or restrictions are too numerous. But if you’re a veteran in search of a mortgage, you don’t have to let these misconceptions drive you away.
These government-backed mortgages are actually among the most flexible and forgiving. In fact, this loan program is booming right now because it’s become increasingly difficult for veterans to secure conventional and even FHA financing. VA loan volume is up 370 percent since 2007, and the program backed a record 630,000 mortgages in 2013 alone.
VA loans have some notable benefits. But they’re also a specialized loan product with unique requirements, some of which can become sticking points for veterans and real estate agents.
Here’s a look at five common potential hurdles for VA home buyers and how to clear them.

1. Occupancy
The VA loan guarantee requires that you live in the home as your primary residence. This means the VA loan can’t be used to purchase a rental property or vacation home. But it doesn’t mean that you can never rent out the property.
Many VA buyers purchase in one location and are then transferred to another location. There’s no prohibition on renting out a property after you’ve occupied it. In fact, renting a former primary residence is a tool many military buyers use when they receive a Permanent Change of Station. It’s even possible to have two or more VA loans active at once, allowing you to rent the home at your old duty station and purchase a home at your new one.
Takeaway: If you’re looking to purchase a primary residence, you’ll likely meet the VA occupancy requirement.

2. A Less-Than-Optimal Credit Score
The VA doesn’t set a minimum credit score requirement, but it also doesn’t actually make home loans. The lenders that do will have credit standards prospective borrowers must meet. VA lenders are typically looking for a minimum credit score of 620. That’s considerably lower than the 740 many conventional lenders require. Even FHA lenders often want to see a borrower at 690 and higher.
But credit and finances can suffer given the unique strain and sacrifices of military service, making even a 620 tough to maintain. Checking your credit scores and looking for opportunities to improve your credit ahead of time can benefit you once you’re ready to buy a house.
Takeaway: A sub-620 credit score isn’t the end of the road. With a little time and dedication you can improve your score and use your hard-earned VA benefits.

3. Residual Income and Affordability
Despite their no-down-payment requirement, VA loans have been considered to be among the safest mortgages on the market for nearly all of the last five years. One of the big reasons is the VA’s residual income requirement.
This standard was established to ensure military buyers were purchasing truly affordable homes. Basically, the VA wants to confirm that you have enough money remaining each month after major bills to cover things such as food, gas and other necessities that don’t show up on a typical loan application.
Residual income is based on geography and family size. For example, a family of four in Missouri would need at least $1,003 in residual income each month in order to meet the guideline.
Your loan officer will consider residual income when calculating your loan pre-approval amount.
Takeaway: If you don’t meet the residual income requirement for the home you desire, consider lowering your loan amount or look at options to discount a portion of the residual with outside income.
4. Appraisals
True or false: You can only buy a home in immaculate condition with a VA loan.
False. A home doesn’t have to be immaculate or brand new, but it does have to meet the VA’s minimum property requirements to ensure the home is safe, sound and sanitary. Is there awful wallpaper from the ‘70s? That’s OK. Is paint chipping off the outside of the home? That’s probably not going to fly.
The good news is many minimum property requirements can be remedied to allow the sale to move forward. Agents who know and understand the requirements can guide you to “move-in ready” homes or include provisions in the contract that will remedy known issues early on.


5. Manufactured Homes
Understand at the outset that you’ve got a tough road ahead if your goal is to purchase a manufactured home using your VA benefit. Many VA lenders steer clear of these properties, perhaps more commonly known as mobile homes.
Start with your local credit union to see if they offer this specific type of financing, and then work your way through a list of other lenders until you find a company you feel comfortable managing your loan process.

Takeaway: Purchasing a manufactured home with the VA loan guarantee is possible. You’ll just have to conduct some research into mortgage companies, and prepare for a lot of trial and error.
[Editor’s note: Knowing where you stand with your credit can prepare you for your search for a home. By checking your credit reports – which you can do for free once a year at each of the major credit bureaus – for errors and negative items, and your credit scores — which you can do using a free tool like Credit.com’s Credit Report Card — you can have a better idea of whether you'll qualify.]

This article was written by Samantha Reeves and originally published on Credit.com.
Related

The 5 Worst Things You Can Do Before Buying a Home 

Cynics may scoff, but getting under contract on the right home can turn even the most stoic shopper into a bit of a dreamer. From paint colors to planting a garden, picturing yourself in that property is critical for many buyers.


But leave a little room for pragmatism. Remember that getting pre-approved for a mortgage and even under contract isn’t a guarantee. That prefix is there for a reason. Loan pre-approval is not loan approval.

You’ll have more hurdles to clear before a lender legally commits to funding your home loan. Buyers who don’t know any better can inadvertently add obstacles to that path — or even kill the entire deal —between contract and closing day.

Some missteps can be costlier than others. Here’s a look at five of the worst things you can do before buying a home.

1. Go Credit-Crazy

It’s almost become cliché in the mortgage industry, but the warning still bears repeating: Don’t buy a truckload of furniture until after your loan closes. The prohibition goes beyond sofas and settees — avoid obtaining credit for any major expense, such as a car, a boat or, yes, a new bedroom set.
Be careful with even minor expenses. If you absolutely need to obtain new credit or accrue debt before closing, talk with your loan officer as soon as possible.

New payments are going to affect your monthly debt-to-income ratio (and residual income on a VA loan), and not in a good way. Hard inquiries on your credit report could also lower your credit score. That might hurt your interest rate if you haven’t locked or even knock you out of qualifying range all together.

2. Shuffle Dollars and Cents

Lenders will scour your most recent bank statement as part of the pre-approval process. It’s not like they forget about it after that. They’ll take another look at your assets and bank records again during the underwriting process.

You’ll need to explain any unusual deposits or withdrawals. Lenders will require clear documentation and a paper trail if you’re putting gift funds toward a down payment or closing costs. Stuffing a wad of undocumented cash into your account is going to raise some red flags.

3. Get Behind on Bills

Having a late payment hit your credit report before closing can devastate your deal. Payment history comprises about a third of your credit score.

One solitary 30-day late payment can clip 60 to 110 points from your credit score. Maybe not a huge deal if you had an 800 score, right?

Possibly. But if that 30-day late blemish is a mortgage or rent payment, some lenders will boot your application altogether. Many will require at least 12 consecutive months of on-time payments to qualify for a home loan.

4. Co-Sign on a Loan
Co-signing a loan is arguably a bad financial move whenever you make it. But it’s especially risky during the mortgage lending process. It means you’re financially liable for someone else’s debt.
Yes, that someone else might be the most responsible person on the planet. Lenders will still need to factor that new monthly obligation into your overall affordability profile. Adding one more debt to the list could stretch too thin your debt-to-income ratio and assets.

5. Changes in Employment
Probably goes without saying, but losing your job is going to be a big problem. Even job-hopping can present some major hurdles. Lenders crave stable, reliable income that’s likely to continue.
Lenders are likely to slam on the brakes if you take a new job in a different field. Or if you decide to start your own business. Or even if you get a promotion but see some or all of your income shift to a commission basis.

The bottom line: Any change to your employment is significant. Keep your loan officer in the loop, and ask questions when in doubt. The last thing you want is to waste time and money on a home loan you’re never going to get.

Throughout the mortgage process, it can also be helpful to monitor your credit scores for changes so you can know whether you need to address any problems. To do that, you can use a free tool like Credit.com’s Credit Report Card, which updates your credit scores and an overview of your credit report every month.