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So Escrow should close next week. And my lender thinks the processor has already called my work. And I just lost my job. I haven’t told anyone. But now I’m just afraid something might fall through and we won’t get our first home. Any suggestions?

3 Thoughts on I’m in Escrow and I just lost my job!?
  1. satarnag
    February 15, 2014 at 1:30 am

    I think you’re in the clear. Verification of employment is done early in the loan process. Right now, with a week away, you’re probably just meeting conditions to fund. The only check they do at the end of the loan process is to run your credit again.

    Regards

  2. dolly3371
    February 15, 2014 at 1:39 am

    At the closing table, the lender’s closing agent will probably ask if you have had any changes to your status, income or credit. If you answer no, you are committing loan fraud. If they don’t ask, you are probably clear, but normally, you have to sign a document making a statement to this effect. GET A JOB QUICK!
    Good luck,
    -Dolly

  3. txrealestateagent
    February 15, 2014 at 2:18 am

    I have had employment checks done the day before closing.

    Talk to your real estate agent and mortgage and explain the situation. You do NOT want to get into a situation of loan fraud. This is a federal offense.

    Unless you can qualify for the purchase without a job (and obviously most people can’t) I think you are going to be out of luck and not be able to close.

    Good luck!

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