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Forum
-> Household Management
-> Finances
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amother
OP
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 Tue, Dec 06 2022, 10:12 pm
Pls only answer if you are familiar with how this works
I just bought a house and used my husband and my income to get the mortgage.
Something personal came up and I will be unexpectedly leaving my job.
Will this effect my mortgage? ( about 1 month later)
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amother
Peru
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Tue, Dec 06 2022, 10:14 pm
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If you got approved for the mortgage and as long as you pay the mortgage payments on time I don't think its a problem
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amother
OP
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Tue, Dec 06 2022, 10:17 pm
| amother Peru wrote: | | If you got approved for the mortgage and as long as you pay the mortgage payments on time I don't think its a problem |
Ty, yes bh can pay
Just nervous to get 1 more paycheck and that's it till things calm down (hopefully soon)
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amother
OP
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Tue, Dec 06 2022, 10:18 pm
Anyone here in mortgage business and can chime in
Technically speaking the sellers got their money and we have the loan so what can happen??
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amother
Rose
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Tue, Dec 06 2022, 10:24 pm
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Nothing. We have been in the situation where it was not even a planned thing. My husband lost his job. Just keep making your payments. They don't re-evaluate your finances after you buy the house and everything has gone through.
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amother
Aubergine
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Tue, Dec 06 2022, 10:33 pm
Nothing can happen, you’re good OP so long as you continue to make payments. Once you close the mortgage is all yours 
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amother
Hotpink
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Tue, Dec 06 2022, 10:51 pm
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It's ok. Just don't refinance while you don't have a job...
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amother
Ebony
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Tue, Dec 06 2022, 10:56 pm
As long as you closed, nothing will happen. Obviously jeep making the payments. Once the house is yours, it doesn't matter how you pay the mortgage (income, savings, gift, etc) just matters that you pay it.
If you haven't closed yet, then it could be a big problem.
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amother
Turquoise
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Tue, Dec 06 2022, 11:46 pm
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You will probably be fine just make sure to make your payments on time. They do spot checks on files sometimes and will call employers after closing. It just happened with a few files in my office.
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amother
Cornsilk
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Wed, Dec 07 2022, 1:07 am
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You should be fine as I don’t think the bank re-evaluates on personal loans. I do know for commercial they can and do ask for financials. However even then I’m not sure they can actually do much about it.
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