5 Things You Should Do After Closing | The Mortgage Minute| Laura Borja-San Diego Home Loans
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5 Things You Should Do After Closing | The Mortgage Minute| Laura Borja-San Diego Home Loans


Hello and welcome to The Mortgage Minute This week we are going to be taking a look at the top five things you should do after closing on your new home. I am Laura Borja, your San Diego home loan expert. Let’s get started. Though you will be receiving copies of the documents recorded at your County Recorder’s office, those will not include all of the document you signed. Your escrow company should have provided you with a copy of the full set of final loan document it’s a good idea to keep these in a state place just in case Change your locks, gate codes as well as the code for your garage there is no way for you to know who previously might have had keys or access codes to the home. You want to make sure no one is able to open your outdoor or unlock the front door and walk right in. Change the batteries in your smoke detector. If you had a home inspection, the inspector probably tested the device but you have no idea if the batteries have one more year left for one more day. Better safe than sorry. Make sure you set up mail forwarding and you update your address with your employer, banks and creditors. Remember that not receiving your bill is not an excuse for missing a payment. A change of address requires that you re-register to vote as well and of course make sure you update your drivers license and car registration with the DMV Except in very special circumstances the first payment will be due on the second month after you close escrow. You should receive a statement before your first payment due, but if you don’t, the set of documents that was provided to you at closing include a first payment payment letter or coupon. I suggest NOT setting up automatic payments until after you have made at least a couple of payments just in case the servicing of your loan is sold. Trying to change automatic payments could cause up a delay in your payment being received. Your HOA, if you have one is billed separately. The first month was probably collected at closing but contact your HOA management company directly for payment instructions if you don’t receive a statement or a coupon book Mark your Calendar and make sure you send in your first payment on time Keep an eye out have for property tax bills in particular the supplemental tax bill. If your mortgage includes an impound account for taxes and insurance the regular annual tax bill will be sent to your lender but the supplemental bill is not. Not paying your property taxes one time will result in tax penalties. There you have it. My recommendation of the top five things you should do after closing. Please don’t hesitate to send me an email or give me a call if you have any questions about this episode or any other mortgage related topic, I’m always happy to help Thanks so much for watching this week’s The Mortgage Minute Don’t forget to subscribe and follow me on social media and I’ll see you next week

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