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What if you lose your job?

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Vegas247
Established Contributor

What if you lose your job?

what happens if you lose your job a month or so after you close on the house but you still have enough money to get by for a long time, like a year or so?

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4 REPLIES 4
tehpud
New Contributor

Re: What if you lose your job?

If you already closed and have the keys...as long as you don't default then I don't see the problem.  The lender won't be checking up on you unless you are paying late.  Unless you anticipate a job loss and are in the middle of applying/closing...


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dragontears
Senior Contributor

Re: What if you lose your job?


@tehpud wrote:

If you already closed and have the keys...as long as you don't default then I don't see the problem.  The lender won't be checking up on you unless you are paying late.  Unless you anticipate a job loss and are in the middle of applying/closing...


agree,

unless you knowingly commited fraud (applied for a mortgage knowing you were loosing your job, lie on your application, etc.), as long as you continue to pay your mortgage payment there is nothing that can be done.

Message 3 of 5
DallasLoanGuy
Super Contributor

Re: What if you lose your job?

once you close and fund it doesnt matter.

 

 

Retired Lender
Message 4 of 5
Vegas247
Established Contributor

Re: What if you lose your job?

Thanks, just wondering, and thinking of the worst possible.....

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