Prefer to talk in person? Find a mortgage specialist on Zillow
Profile picture for Art Museum

If you meet all the qualifications of the Loan Mod Progrm, then lose your job do you qualify still?

Does someone collecting unemployment benefits still qualify for the Loan mod program if they didn't start their application untill they lost their job? 
  • October 01 2009 - Center City West
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (3)

Profile picture for Justin Kennedy
many lenders require unemployment to countinue 9 months to be considered effective income on your loan modification.
  • October 02 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I do not think so employment is key unemployment does not last long enough to be used to qualify for a mortgage
  • October 01 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

It all depends on how much unemployment income you are collecting.  If you are not collecting enough based on your financial situation and hardship you may be denied.  Who is handling your loan modification?  Are you doing it yourself?  If you are and get denied, do not give up.  Take another approach and try a loan modification attorney!

I hope you find a job soon as I know losing your job is very stressful.

  • October 01 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.