All Posts Tagged With: "Real Estate"

Here is a bit of information I think that will be valuable to consumers who are looking for mortgage financing or are applying for new homeowners insurance. I bet you didn’t know that Google Maps “street view” may be playing a part in whether you are approved and or may increase your insurance premium.

This issue is similar to those applying for new jobs as well. The top HR departments and underwriters are Googling you. So don’t be surprised if you are declined for a job, mortgage financing, or insurance based on your internet search engine audit trail.

In real estate and finance this is becoming more and more apparent with the credit crunch. Underwriters are taking a deeper and deeper look at you and you collateral (your home) based on the images from Google Maps “street view.” If your appraiser misstates the quality or uniqueness of your home or you embellish the truth on an insurance application you may find difficulties getting financing or higher insurance premiums.

Savvy underwriters are seeing your home in high definition right from the front curb. They are not just seeing the overhead view. They even have the opportunity to drive up and down your streets and check out the neighborhood with stunning clarity via cyberspace.

It is becoming easier and easier to scrutinize new customers in secrecy. Keep that in mind if and when you decide to embellish the truth on a mortgage or insurance application.

With more than 50% of foreclosures being prevented, the first step a homeowner can take is to call their Mortgage Company and ask to speak to someone in the “ Loss Mitigation Department. ” If your lender is not listed below,