The loss of employment can be one of the most stressful events in a person’s life. Purchasing a home, while it is a very exciting time, can also be an extremely stressful event. If one loses his or her job, however, while in contract to purchase a home it can certainly be devastating. A purchaser spends many years to save up enough of a downpayment to purchase a home and, in the end, could potentially forfeit his or her life savings upon the loss of his or her job after a mortgage commitment has been issued by a lender. Recent court decisions highlight the various issues and consequences that could exist when a purchaser loses his or her job, particularly after the lender has issued a mortgage commitment and the mortgage contingency under the contract of sale has been met.
http://hollatzlaw.com/wp-content/uploads/2014/09/HLG-sq-logo-200.gif 200 200 Steve http://hollatzlaw.com/wp-content/uploads/2014/09/HLG-logo-200x100.gif Steve2018-09-06 18:03:032018-09-06 18:09:46HGAR LEGAL CORNER: I am Buying a Home and I Lost My Job, Now What? – Real Estate in Depth