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Issues with J Visa

Profile picture for xmplary
Has any one run into mortgage issues in getting a mortgage with the J1 immigrant Visa? I have run into an issue with the underwriter asking for employment guarantee.  Isnt practically all jobs on an At-Will employment, except for CEO type of positions?  What workarounds are available?
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August 23 2009 - US
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Answers (5)

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Profile picture for LUXURY HOME LOANS CA
I beleive the request was not for a guarantee. It was probably for the likelyhood of continued employment.

IMHO, no employer would expose themselves to the liability of stating in writing that someone has guaranteed employment. .... The u/w couldn't furnish such a document regarding their continued employment. .... Best wishes, Rudi
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August 23 2009
Profile picture for NeedinFHA
As stated above, for an employer to say a employee will have continued employment is bad, because if then they could almost sue the employer if they were to let go.  Don't feel bad my loan was denied because my loans were 2 days from 12 months payment date due, I think the Underwriter Held the file for 2 days just so they could deny the loan.
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September 23 2009
Profile picture for LUXURY HOME LOANS CA
msoori,

See, that's a lot different than a guarantee, isn't it? Did the deal close? .. Happy funding, Rudi
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September 23 2009
Profile picture for xmplary
Yeah what the lender was asking was to get a letter from the employer saying that if the employee would have the job if conditions didn't change, and that the employee is doing a satisfactory job.
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September 23 2009
Profile picture for DiamondFundingCorp
Not really familiar or experienced with J1 Visas.

I will suggest to you to research this issue with other lenders.  Not all may underwrite this issue exactly the same, especially conventional vs. government underwriting.
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August 23 2009
 

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