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Job loss, loan pre-appoval, bid on a house- Need help loan guys, or anyone else...

Moderator Emeritus

Re: Job loss, loan pre-appoval, bid on a house- Need help loan guys, or anyone else...


Shogun wrote:

Tell them now, be upfront and honest with them.   You may have to wait awhile to get your mortgage, but at least it will be done in a legal fashion.   

 

I'm sorry to hear about your situation and I'm wishing you the best of luck for your interviews!


+1...    try to get hired back in the same industry if possible Smiley Happy

 

Hopefully making more income Smiley Wink   sometimes when a door closes, a window opens Smiley Happy


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Message 11 of 13
Contributor

Re: Job loss, loan pre-appoval, bid on a house- Need help loan guys, or anyone else...

In my situation I still worked FT and my husband lost his job.  They re-did the loan under my name only.  They took my husband off the loan.  I was approved for the same  amount. Smiley Happy  I agree with the others, tell them the truth.  They will tell you your options.  I ended up having to transfer my loan to a FHA since the house we wanted had a barn. Smiley Sad  Anyway, good luck!  House buying is so stressful, but so worth it in the end.

Message 12 of 13
Valued Contributor

Re: Job loss, loan pre-appoval, bid on a house- Need help loan guys, or anyone else...

My wife lost her job while under contract on an FHA but where she wasn't on  the loan it really wasn't a big deal...but yes I would tell them, then look at your financial situation to make sure you can afford it.

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Message 13 of 13