Posted on: 23rd Jun, 2009 08:07 am
This is a situation about someone that I now and I just need some feedback. I close friend of mine just quit her job about two months ago. She tried to file for unemployment and they denied her. Now she is trying to get a loan modification to lower her payments on her home. My question is will she have to show proof of uemployment if she tells the loan company she has been laid off? If she tell them that she's not working at this time would they want to see her recent paycheck stubs? and can they deny her a loan modification if they find out she quit her job and doesn't have any source of income coming in?
phansee
Welcoem to the forum
In any way, the bank would like to make sure that she can make payments after the modification is done. She is in trouble both the ways. If she lies then she may not be able to show the recent pay stubs and if she says the truth, the bank may not modify the loan.
Best option would be to see if she can get a job and then ask for loan modification, which will be a stonger case for modification
Good luck and feel free to ask
Welcoem to the forum
In any way, the bank would like to make sure that she can make payments after the modification is done. She is in trouble both the ways. If she lies then she may not be able to show the recent pay stubs and if she says the truth, the bank may not modify the loan.
Best option would be to see if she can get a job and then ask for loan modification, which will be a stonger case for modification
Good luck and feel free to ask