Posted on: 08th Apr, 2009 07:18 pm
My wife and I are closing on our home and I have rumors of more layoffs. The only people left to lay off is a few of us workers and the owner and part owners. So we know that it will be us few that don't have part of the company. The president filled out my employment verification and said he plans future employment and all the rest. So if we close and a few days later I get laid off, will anything bad happen. We already figured out that we will be fine if I'm laid off for a while. I'm the only one on the loan.
Any comments and opinions on this would be helpful. I don't want it to look like I'm faking employment, because I'm not. But I can't help that work is getting real bad and more cuts are coming. I know there is something saying it's against the law to lie.
thanks
Any comments and opinions on this would be helpful. I don't want it to look like I'm faking employment, because I'm not. But I can't help that work is getting real bad and more cuts are coming. I know there is something saying it's against the law to lie.
thanks
Hi Guest,
Will you be able to make payments on the loan in case you are laid off? Is your wife employed? Would she be able to make payments instead of you if you lose your job? If you are the only one on the loan and you default, your credit score will be ruined. So, before you close on the loan, consider these facts and then take an informed decision.
Will you be able to make payments on the loan in case you are laid off? Is your wife employed? Would she be able to make payments instead of you if you lose your job? If you are the only one on the loan and you default, your credit score will be ruined. So, before you close on the loan, consider these facts and then take an informed decision.
well, fortunately, you aren't lying. the worst situation you'd find yourself in, i believe, would be an inability to make the payments.
as jenkin noted, you'll want to definitely consider your situation before closing, so you can make a decision as to whether it makes sense to make this purchase or not.
as jenkin noted, you'll want to definitely consider your situation before closing, so you can make a decision as to whether it makes sense to make this purchase or not.
