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Can I quit my job after I sign my closing papers??

JKennedySLG's picture
JKennedySLG | Joined: April 1, 2009 08:07 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

A few of the lenders I deal with will verify employment after closing docs have been signed. I would recommend sticking with your job for the time being. I hope this helps...

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:37 | Post subject:

Realgeni's picture
Realgeni | Joined: April 13, 2009 08:03 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

I would suggest you to stick with your job, until everythign is settled.

You must be happy that your refinance is approved and just do not messed it up at the last moment.

Even though it may not appear on your public records about your employment immediately, but the lender may call to vlidate then you will be in trouble.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:37 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi shoegalchanel,

I agree with James here. You should not leave your job after signing the closing docs. If the lenders verify your income after closing, he may cancel your loan.

Thanks

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:37 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

if you are talking about quitting a job so as to take a new one, that's a different story, particularly if it's a better job.

on general principles, however, i'd say don't quit.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:37 | Post subject:

ashleyblanton's picture
ashleyblanton | Joined: February 3, 2009 02:17 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

MOST lenders i deal with do a verification of employment within 5 days of funding. So that is AFTER you sign your closing docs.

I would NOT quit til your loan is recorded. Which is generally 48 hours after funding.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:37 | Post subject:

eric1's picture
eric1 | Joined: January 4, 2009 03:52 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Aside from tricking the bank...I hope you have a plan to make your payments after you quit your job.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:37 | Post subject:

Realgeni's picture
Realgeni | Joined: April 13, 2009 08:03 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Interesting comment Eric.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:37 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Granted, if you have an offer of a better job or a higher paying job, providing two weeks' notice is fine. HOWEVER, I can't tell you how many deadbeats in Florida quit their jobs either the day before or after the closing, with NO intention whatsoever of getting another job. They used the amount of the cash out to live on, took a shot at unemployment, and with one of those snazzy interest-only ARM's, "skated" on making small monthly (interest only) payments for two or three years!!

What happened when that time was up? You're LOOKING at it, people. Foreclosure, foreclosure, foreclosure. With rates adjusting upward and these lame people not wanting to go back out and get jobs, it's bye-bye house.

So there's your answer. When you take out a mortgage, you have an OBLIGATION to make the payments. Quitting your job without having another one flushes your ability to pay right down the toilet. Only you can answer for yourself on that one.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:37 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

why would you guit your job? who quits nowadays?....you need money don't ya?

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:37 | Post subject:

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