Posted on: 23rd Sep, 2010 09:53 am
I recently purchased a home and after closing I decided that my job was much too far away and I quit. It's been 2 weeks since we have been living in the new home and I was wondering if I could loose the house or my loan could change because I did this. Do the lenders still verify employment and income 2 weeks after closing. We will still make payments on time and I will be getting a new job in a month, so paying the loan is not the problem.
Hi Pickles,
Once the loan has been originated in your name, the lender won't check your employment history now. However, if you don't make the payments on time, then your property may be foreclosed by the lender.
Thanks
Once the loan has been originated in your name, the lender won't check your employment history now. However, if you don't make the payments on time, then your property may be foreclosed by the lender.
Thanks
They will not go back and check but I hope you can make the payments. I honestly have no idea why you would quit work without having another job lined up first. Meanwhile, people want to blame banks for their foreclosures.
