Buying A Home
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Mortgage loan issue?

So here is our situation....My husband works for an electrician union and is contracted out on different jobs through different companies all the time. So here is our issue...My husband was let go this past Friday and we are suppose to close this Friday (26th) on our house. He is 95% sure he will be getting a job this week but it will be with another company. Do you think we are going to have a hard time with our mortgage company this week? closing? will it get pushed back ? Oh and by the way his salary always stay the same from job to job.

Re: Mortgage loan issue?

  • Depends on if they've done the employment verification yet.  When we closed they did the employer verification (again) one day prior to closing.  Was his income needed when you were approved for the loan?  If your income is enough to support the house and the bills then I wouldn't worry about it. 

    You might want to talk to your processor now instead of waiting until last minute. 

  • Call you LO ASAP to discuss the situation.  As with the pp, our lender did employment verifications upon application and again 24 hours prior to closing.
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  • We had the same issue.  If DH had started the job prior to closing we wouldn't have been allowed to close, even with a letter from the new employer, and he is now making more money.  Can your H push his start date back?  DH accepted his job on 6/27, but got his start date pushed back to 7/18, and we closed 7/12.  It might suck not to have any time off between jobs, but we now have a house.
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