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Updated 8 months ago on . Most recent reply

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Nightmare surprise before closing

Posted

Hello everyone,

As the title says, we are 3 weeks away from closing and we are in a big dilemma. For background information, I'm a W-2 contract employee who makes 80k+ a year and I have been working at this job since January of this year. We went through a local company for an FHA loan and were approved. At this point, we are three weeks away from closing on our first house (August 22nd). We did the appraisal, we got the lawyer, and everything was set. We spent money on the inspector, the appraiser, and the lawyer. Yesterday, my lender texted me and said that my job won't list me as a permanent employee when she ALREADY knew my situation and knew that I was a contract worker. She didn't bother to disclose this to me initially; now we are deep in the process. I'm not sure what to do in this situation, whether to drop the deal and lose my earnest money or try to find another lender. Any guidance/ tips on how to proceed would be very appreciated. Thanks.

Most Popular Reply

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17,478
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,165
Votes |
17,478
Posts
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

Just change lenders.

Try @Upen Patel. He is a Rockstar lender.

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District Invest Group
5.0 stars
44 Reviews

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