i'm in escrow and one of the borrowers jus quit second job and can't verify income so what will happen?

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i'm in escrow and one of the borrowers jus quit second job and can't verify income so what will happen?

2007-06-12 15:49:05 · 2 answers · asked by liz d 1 in Business & Finance ➔ Renting & Real Estate

2 answers

If that income was critical to qualifying it's likely that the mortgage will be turned down and the deal will collapse. If the income isn't critical to qualifying, probably nothing will happen.

2007-06-12 15:53:00 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋

Hurry up and use their last paystub. Lenders usually will use a paystub 30-45 days old. Close the deal and get paid before its too late.

2007-06-12 23:04:15 · answer #2 · answered by merchant_pa 1 · 0⤊ 1⤋