If I put in my two weeks notice before we close but the two weeks will end after close, is there a possibility my loan could be jeopardized? When do they do the last minute employment verification, do they just verify I am currently employed or do they ask about future employment status?
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Job Change right after move?
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Last: 4 yr ago by MookieBlaylock
Three Twenties and A Ten
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AG
It's been a few years but my lender was calling up until 48hrs of close (I was in the same scenario). Not sure if that is common or by lender.
They do a verification of employment at the end of the process. Did you stay in the same career field? And did your income change? This could definitely delay closing. The VOE has a spot where they ask about likelihood of future employment.
dont quit your job until after closing
big mistake
Alright. I'll see if I can bump the start date on the new job. Thanks everyone.
Jay@AgsReward.com
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Make sure you loop in your loan officer and tell him/her the truth as they can help you with a plan. Be upfront.
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All my lenders require verification of employment within 72 hours of closing. They implemented this right after Covid hit us. Agree with Jay you need to discuss with your lender contact ASAP.
There are some work arounds but it's really bank specific as what they will require.
There are some work arounds but it's really bank specific as what they will require.
I discussed it with her. She thought they would only verify whether or not I was currently an active employee, but seems that was incorrect.
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She is incorrect. If you have out in your two week notice your current employed cannot say your employment with them is likely to continue. That would be a full stop on your current loan.
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Your lender is an idiot and should be fired.
I didn't realize the whole don't quit your job or buy expensive **** doesn't happen after every preapproval.
I didn't realize the whole don't quit your job or buy expensive **** doesn't happen after every preapproval.
The Lost said:
Your lender is an idiot and should be fired.
I didn't realize the whole don't quit your job or buy expensive **** doesn't happen after every preapproval.
it usually is but people do stupid things
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