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Profile picture for Joey Man

Can I file unemployment?

Hi,

I just reached closing of my mortgage refinance and got news from my employer that I got lay off. Can I file unemployment benefit? will the mortgage co. cancel my refinance?

Thanks for your help.


Joe
  • September 02 2010 - Oakland
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Answers (4)

Profile picture for Joey Man
If I called the lender and letting them know. 2 possibilities are: you are dead and you are dead. If I didn't let the lender know when they call before funding 2 possibilities are: ;you are dead or you are alive.
I don't know if the lender found before funding they gonna to say: you are dead and owed us refinance fees or you are dead and good bye.
Please advice.


Joey 
  • September 09 2010
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If your loan has already closed you're ok. 

If you haven't signed on the dotted line & the loan hasn't closed you should contact your loan originator immediately.  They can't deny your loan because of unemployment, they can only deny your loan if you debt to income ratios don't meet guidelines.  
  • September 02 2010
  • 1Yes

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Profile picture for wetdawgs
So sorry to hear of your job loss, been there and been there two days before refinancing.   In addition to the lender rechecking your employment, when you sign on the bottom line you are signing somewhere in the reams of documents that nothing has changed in $$ status since you applied.  Therefore, you need to let the lender know immediately.
  • September 02 2010
  • 1Yes

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Profile picture for Crestico Funding
Joe, The lender will call your employer to verify your employment prior to funding your loan, please contact your MLO ASAP and advise them of the situation.
  • September 02 2010
  • 0Yes

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