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Bank not backing a loan due to a paid maternity leave
Hi all, just looking for some advice/information. We recently were pre-qualified for a 5/5 ARM 20% down, offer made and accepted on a 2 family, inspection completed and accepted, attorney's are involved etc. All during this process I have been and am currently on full paid maternity leave. My pay is not changing, or my job status, but since the bank had recently learned (from me) that I am in the hospital until I deliver they are not able to back the loan. They have not confirmed any employment with where I work, or even have specifics on my due date. They have zero information. My new due date is actually prior to the closing date. While I understand we are a liability to the bank, they did zero to gather any information on my employment and pay(which is not changing at all, if anything I have received a raise since our preapproval letter given I work in a school and each year is an increase after July 1st). Thoughts or suggestions? We would appreciate it