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Failure to change address

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Failure to change address

Quick question,

In December 2013 myself and my girlfriend rented a place in Delaware and never changed our address from our parents houses in Pennsylvania and Maryland and still use parents address as mailing and billing addres for everything with the exception of house bills....we were not expecting to stay near as long as we have and are on a month to month lease and finally ready to get pre approved to begin house searching.

My question is will this be a problem during the ore approval process and should we goto the dmv and Change our driver license address over prior to going to the pre approval, and will that cause a problem when they go to run our credit as only EX is showing our rental address on creit report. Thanks in advance.

Starting Score:
550 (05/2014)
Current Score: 726
Message 1 of 11
10 REPLIES 10
Valued Member

Re: Failure to change address

I personally don't think it'll be a problem at all, but let one of the mortgage experts on this site see this question and answer it for you!

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Message 2 of 11
Senior Contributor

Re: Failure to change address


@silenthunder wrote:
Quick question,

In December 2013 myself and my girlfriend rented a place in Delaware and never changed our address from our parents houses in Pennsylvania and Maryland and still use parents address as mailing and billing addres for everything with the exception of house bills....we were not expecting to stay near as long as we have and are on a month to month lease and finally ready to get pre approved to begin house searching.

My question is will this be a problem during the ore approval process and should we goto the dmv and Change our driver license address over prior to going to the pre approval, and will that cause a problem when they go to run our credit as only EX is showing our rental address on creit report. Thanks in advance.

Hmmm.... it is legally required that your driver's license show your current address so yes, get that done before applying for a mortgage.

The lender may require a letter of explanation for the fact that you have not been using your current address for almost all of your credit.

 

The lender will require verification of rent by sending a VOR form directly to your landlord and requiring your landlord to send it directly back to the lender. If you have been keeping copies of your cancelled rent payment checks [you have been paying by check right?], submitting copies of those is helpful.

 

Good luck as you start you home-buying journey.

 

 

 

Message 3 of 11
Valued Contributor

Re: Failure to change address


@ezdriver wrote:

it is legally required that your driver's license show your current address so yes, get that done before applying for a mortgage.

 

Are you sure that's correct? Ca DMV for instance says, "You can change your residence or mailing address for your California Driver License, Identification Card, vehicle, or vessel. A new driver license, identification card or registration card is not issued when changing your address."

 

Message 4 of 11
Established Contributor

Re: Failure to change address


@My-own-fico wrote:

@ezdriver wrote:

it is legally required that your driver's license show your current address so yes, get that done before applying for a mortgage.

 

Are you sure that's correct? Ca DMV for instance says, "You can change your residence or mailing address for your California Driver License, Identification Card, vehicle, or vessel. A new driver license, identification card or registration card is not issued when changing your address."

 


I also don't think that is true.... NY DMV for instance allows you to change your address online and does not require you to get a new license with the address (though there is a place on the back to write it in). I think failure to notify the DMV of change of address is a fairly common occurance.

 

As long as you address appears on one of your credit reports it'll be on your trimerge accounts... and I don't think an underwriter cares much anyway. They are looking to see if you have other addresses on your credit report, to see if you have an undisclosed mortgage. If they do ask, it is a simple LOE. They also may or may not ask for proof of rent (I was not asked)... what may be an issue, is if you have not been making housing payments for very long (and they can see this in the address history you provide).

 

My license does not have my current address in it, in fact it is 2 addresses ago, and I went through underwriting and closed with it just fine... I"m not going to pay the DMV $$ just to get a new license with my current address.

Message 5 of 11
Moderator Emerita

Re: Failure to change address

This varies by state.  In Florida it is required to notify the DMV within 10 days of moving. http://www.flhsmv.gov/ddl/addresschange.html

Message 6 of 11
Established Member

Re: Failure to change address

Yes it looks to vary per state, i did some research after some comments and see that its 60 day to change address for Delaware, so im going to just go ahead and change everything over monday afternoon to save any hassel it might cause, spoke to PA who adv i can keep the vehicle with pa tag since my mother is a coborrow and registration is in both of our names so it wont be much of a hassel just to pick up a new license.  Thank you all for the help once again!


Starting Score:
550 (05/2014)
Current Score: 726
Message 7 of 11
Senior Contributor

Re: Failure to change address


@My-own-fico wrote:

@ezdriver wrote:

it is legally required that your driver's license show your current address so yes, get that done before applying for a mortgage.

 

Are you sure that's correct? Ca DMV for instance says, "You can change your residence or mailing address for your California Driver License, Identification Card, vehicle, or vessel. A new driver license, identification card or registration card is not issued when changing your address."

 


I don't know of any state that won't require that you get an instate license within a certain number of days of becoming a resident there. Your auto insurance company requires that you have your current address on your insurance anyway.

 

I must ask ... why the hesitancy about having all of your business documents reflect your current address?

 

Also, your driver's license is required by the lender for the closing on a home purchase.

Message 8 of 11
Senior Contributor

Re: Failure to change address


@Peter1142 wrote:

@My-own-fico wrote:

@ezdriver wrote:

it is legally required that your driver's license show your current address so yes, get that done before applying for a mortgage.

 

Are you sure that's correct? Ca DMV for instance says, "You can change your residence or mailing address for your California Driver License, Identification Card, vehicle, or vessel. A new driver license, identification card or registration card is not issued when changing your address."

 


I also don't think that is true.... NY DMV for instance allows you to change your address online and does not require you to get a new license with the address (though there is a place on the back to write it in). I think failure to notify the DMV of change of address is a fairly common occurance.

 

As long as you address appears on one of your credit reports it'll be on your trimerge accounts... and I don't think an underwriter cares much anyway. They are looking to see if you have other addresses on your credit report, to see if you have an undisclosed mortgage. If they do ask, it is a simple LOE. They also may or may not ask for proof of rent (I was not asked)... what may be an issue, is if you have not been making housing payments for very long (and they can see this in the address history you provide).

 

My license does not have my current address in it, in fact it is 2 addresses ago, and I went through underwriting and closed with it just fine... I"m not going to pay the DMV $$ just to get a new license with my current address.


New York State law requires that you report a change of residence address on a driver license, permit, non-driver ID, or registration to the DMV within 10 days. However, nothing stops you from breaking the law.

 

By the way, I do not believe that I posted anywhere that one could not close on a home purchase without having their current address on the driver's license so I'm not sure about your "don't think that is true comment".

 

If you go back and read my post carefully, you will see that I was making two points:

 

1) A current driver's license if required at closing of a home purchase and

2) I don't know of any state that does not require a driver's license holder to update their address withn a short time of moving.

 

 

Message 9 of 11
Senior Contributor

Re: Failure to change address


@My-own-fico wrote:

@ezdriver wrote:

it is legally required that your driver's license show your current address so yes, get that done before applying for a mortgage.

 

Are you sure that's correct? Ca DMV for instance says, "You can change your residence or mailing address for your California Driver License, Identification Card, vehicle, or vessel. A new driver license, identification card or registration card is not issued when changing your address."

 


In states that do not issue new licenses [as Florida does], a sticker showing current address is placed on the license. I do not know what the details are for every state but every state require that your drive license record show your current address.

 

 

 

Message 10 of 11
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