Posted on: 10th Jul, 2009 09:08 pm
Hello,
My husband and I have already been approved for the loan on our house. We are scheduled to sign "closing documents" on Monday, and will be given the keys on Wednesday. My husband said they called today (Friday) to verify employment. Will they call again before they give us the keys? Or was this call, the last call for verification?
Thanks,
Amanda
My husband and I have already been approved for the loan on our house. We are scheduled to sign "closing documents" on Monday, and will be given the keys on Wednesday. My husband said they called today (Friday) to verify employment. Will they call again before they give us the keys? Or was this call, the last call for verification?
Thanks,
Amanda
that ought to be the last, amanda. it is not only customary for verbal verification of employment to be done at the last minute, it is now a mandatory thing. too many folk decide not to advise their lenders of changes that will materially affect their ability to repay a new loan, and this is certainly the cause of some defaults. lenders are not looking to make loans to those who cannot repay them - verifying employment at a late stage in the game is a protective action.
i don't quite understand, however, why you're "signing documents" on monday and receiving keys two days later. is your monday meeting a closing, or just some kind of informal get-together? it seems like the latter. color me skeptical.
i don't quite understand, however, why you're "signing documents" on monday and receiving keys two days later. is your monday meeting a closing, or just some kind of informal get-together? it seems like the latter. color me skeptical.
Most of the time lender confirms employement through third party agency and that too by calling in your office and not you............... so do not worry....
keep in touch..........
keep in touch..........
Hi agphxaz,
Welcome to our forum.
In my opinion they will not ask you directly, They will confirm it automatically by other way.
Thanks & Regards.
gunz.ijjistaff. :lol: :lol: :lol:
____________________________________________________________
You can ask your queries to us anytime & we will definitely help you, Its our pleasure. This is the World's Largest Mortgage Community.
Welcome to our forum.
In my opinion they will not ask you directly, They will confirm it automatically by other way.
Thanks & Regards.
gunz.ijjistaff. :lol: :lol: :lol:
____________________________________________________________
You can ask your queries to us anytime & we will definitely help you, Its our pleasure. This is the World's Largest Mortgage Community.
verbal verification of employment is always done with the employer or through a third-party service and never directly with a borrower. it must be independent.
Yes, Sir. you are absolutely right.
In response to gmakerley,
We were told we are siging "closing documents" on monday, however, if the paper work is not submitted before 10am on monday, then the loan will be funded tuesday, and we will be given the keys wednesday.
I know sounds a little strange. When I questioned the delay of getting the keys, this was what he told me.
thanks for your input
We were told we are siging "closing documents" on monday, however, if the paper work is not submitted before 10am on monday, then the loan will be funded tuesday, and we will be given the keys wednesday.
I know sounds a little strange. When I questioned the delay of getting the keys, this was what he told me.
thanks for your input
DO not worry Aqphxaz
Dedefinately they will give you keys.
Its a normal process to check employment status.
Do not be so panic on this issue. your problem will get resolved.
Dedefinately they will give you keys.
Its a normal process to check employment status.
Do not be so panic on this issue. your problem will get resolved.
All above suggested is on right track.
Don't worry.
Don't worry.