Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
For FHA qualification, job verification question?
at what point in time (how long) PRIOR to closing, will the lender likely STOP verifying my info? For example, 1 day before closing.......30 day before closing.....Whenever you lock (60 or 90) etc.??
There must some point right?
Or, hypothetically, if you lost your job even one day before closing, would they check it the prior day and cancel the loan, or....?
Just trying to get a sense of what is normal , timeframe wise. There must be SOME time prior to closing when they call it good. What is that?
2 Answers
- A HunchLv 78 years ago
They will verify your employment only once, during the underwriting stage. You might have this done during the pre-approval stage, but that is really not connected to the actual mortgage.
The loan is not yours until closing, at closing you may be required to verify that the information on the loan application is still valid - I have had to do this for some mortgage loans but not others.
= when I say "at closing", I mean "at closing" when you are signing all the other documents.
If you lie and say you are still employed when you were laid off = you are committing mortgage fraud. If you don't default on the loan or have late payments, it's doubtful you will be caught.
