A pre approval means that the bank will issue you a mortgage loan based on the information provided however before approving the mortgage the bank will verify the documents. If the documents were not verified and you already got fired then most likely you will not be able to get approved as the x employer will not verify the information of your employment.

Request a certified copy from the bank. Remember to register this in the land registry (this is your responsibility not the bank) to clear out the lien holder`s name from the title.

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My wife and i had approval on a mortgage loan and the day before closing she lost her job which meant that the finance company wouldnt continue with the loan.will we be responsible for paying anything at this point or is it just a matter of the realtor getting us to sign a release from contract?

sorry for your income loss. YOUR query is not uncommon. SINCE you have not signed your promissory note with your lender and they have not given a check to the seller, you are not obligated to anything. YOU will lose your deposits as the fault is not with the seller. YOU must walk. It is that simple. You can be gracious and tell the closing firm [title company in title states like mine, Az], and the seller's agent and of course your agent if you have one [you should.] YOU may sign releases or whatever, but it is not required. YOU are no longer legally and ethically a buyer for real estate AT THIS TIME. Keep your head up, be proud and look forward to the time when you can again buy. if feasible, your lender might keep the agreement to lend available..........

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I have been with my current employer over 3.5 years. recently, i signed a contract on a condo and applied for a mortgage. the mortgage was supposed to close more than a week ago. due to an inefficient processor, the close was delayed and is scheduled for this friday. the problem is i start a new job on monday. the lender/ processor called to verify my employment today and instead of hr simply saying yes she works here they told the lender of my impending resignation. so what i though was a mortgage that was ctc has been reopened. underwriting is saying that they require 30 days of salary for a new job. i provided them with a copy of my offer letter. my issue is my salary is stable, im just changing employers. nevertheless, 30 days means im screwed and have lost the house. no real question, just venting. has anyone gone through anything similar and figured out a way to still close as scheduled.

Nope, no way to close on time. Same thing would have happened a week ago if you had already given your notice. Never, ever change jobs/buy a car/open up a Kohl's card or do anything to your credit or income during a mortgage application ! You should not, however, need 30 days of salary for the new job. That is an overlay with your lender. Under some programs you may need one paycheck, but not 30 days worth. 30 days worth of salary is probably 45 days of working and I'm guessing the sellers will get angry at a 45 day extension. I would suggest seeing if you can get a 2 week extension and try to close quickly with someone else who doesn't have that overlay and has quick turn times. You can message me and I can see if I can help you.

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I'm 21 years old and pretty sure i'm depressed....looked up symptoms of depression online many times before and tick many boxes. i do a very good job at hiding it though, i might look empty, but i dont think its obvious i'm depressed, if that makes sense? i put on a happy cheerful act around others because it would be embarrassing if people know. but i also put on that act around my family. i would love to go to a treatment centre for depression....i feel like i have severe emotional issues that need to be worked out before i can move forward with my life, and feel like i need to give myself space from daily life to work it out, which is why i think a treatment centre would be more beneficial then counselling once a week....because my head would be spinning inbetween therapy sessions if i did that and would lose complete focus of daily tasks. my family right now are struggling financially...my dad lost his job in the recession. we're selling our family home to make money, and my parents are profiting (alot) after the mortgage is paid off. because i know how much it is, i know they could afford to send me to a treatment centre...but because its all the money thats left, i've made a deal with myself not to bring up my depression or ask them to send me anywhere unless my dad gets another job and the contract has been signed and hes already started the job. ....is that selfish of me? i'm trying to work myself, but dont have alotof hours so i'm not making alot of money, but honestly, i dont think i'm mentally able to work more then i am....i have before and struggle after a couple hours to stay focused, because of how depressed i am my feelings eventually affect my mind and concentration. i've tried to not let that happen but i cant help myself from it happening....i've ended up making useless mistakes making a huge mess of things just from not thinking straight.

There are cheaper and really affordable ways to help treat your depression. And the way to help you is through meditation. Meditation is known to help relieve such problems as depression. Try these to help:www.xphirience.com or www.yogicsound.com These are cheaper options that won't cost too much money and it will help you.Give it a go.And hang in there.

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I was signed, then dropped, by a major record label in 1998 after being voted "best guitarist in ohio" in 1997. i then attended berklee college of music for composition/arrangement until i was in a car accident that left me unable to play my guitar. since the accident i have been studying music business. i am working on a certificate in music business and production from berklee. i also have extensive printing and distribution contacts. i started an entertainment company a couple of months ago. i have been having moderate success. i do production/engineering,merchandises e acquisition, publishing/copyright consultations, touring logistics, marketing/distribution plans... i spoke with several well know entertainment lawyers who told me that i could charge $100/hr. for my current level of knowledge and experience. i was also told that i would make a good personal manager. being a personal manager for an unsigned act is not really a desirable thing. there is no money in it. a lot of unsigned acts, that i have worked with, have been less than forthcoming about their "personal" situations in order to get me to work with them. the ability to tour being the primary area of concern "oh, yeah, we can all tour." but, when the time comes there is always one guy in the band who can't go because of children, mortgages, wives, finances... the solution seems to me to be to work with bands that are already signed and touring. contracts don't work on unsigned artists either because they have nothing to lose. you can enforce and unenforcable contract, right? also, i know several well known artists but that doesn't always gaurantee work. it rarely does, actually, because i don't have a desire to use my friends. association means nothing for the most part. you don't see frank stallone on the big screen or roger clinton with a gold record. can anyone give me some advice on how to get where i am trying to go?

Have you thought about joining a company like IMG? If you've got industry understanding, contacts, and empathy then that puts you in good stead. Make a name for yourself first... or give yourself a few months on your own and network your butt off.

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Hi,we have had our house on the market for a year it is in need of some modernisation.we nearly had a buyer it had gone to signing contracts when the couple pulled out to losing a job.while i can understand we are still left with the dilema.it is presently on the market for 159950 and we were going to accept a lower offer.we are now looking into renting it out but with this it occurs more costs to ourselves.we just dont know what to do.at present we have the mortgage and private rent.

This is not the best time to sell a house, and apparently house prices are going to drop for the next two years so no-one in the right mind would buy a house now unless they had to. You could rent it out and from the rent pay the mortgage and sell it in two years when the market recovers, or why dont you move into it as your renting at the minute

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We were going to buy a house from a man and it was owner financed. he kept changing the agreement even going so far as to say that we had to be married first. we had already signed a contract with him, but agreed that we would get married before we did the closing. he is old and we wanted to get married anyway. well, my fiancee lost his job and we couldn't pay augusts rent (which should have been mortgage) if we had closed. we moved all of our belongings out of the house and today eric called him and told him that he was going to turn the water on to clean the place really well. the man said that was fine but that he was going to court tomorrow over suing my fiancee because he was losing money on the house. my fiancee never signed a rental agreement with him, and was never served to go to court. what should we do?

if you never signed any sort of agreement then your probably in the clear. he isnt going to be able to prove that you were supposed to be paying on it if he has nothing signed saying that you would. if he is going to court today, then odds are he hasnt gotten the papers in order that need to be served to you, this isnt the actual like, judgement or whatever, this is him going down to court trying to prove he has a case. (which, likely, he does not, as you never signed a rental agreement, so he cant prove you owe anything) tho honestly if this guy is as picky as he sounds, i wouldnt rent from him anyway.

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I am really close to my family of five sisters and two brothers. many years ago, when my father was alive, i saved the family house and property that was to be auctioned, by settling the mortgage with the money that i had saved on my own. i never got the money back nor did i ask for it. a few years later my father split the property into 7 so that each sibling inherits a portion. however, once i was married, i gave my portion of the property to my elder sister (for an insignificant amount at the time) as i moved to a different city with my husband. over the years my siblings and i have continued to have a very good relationship with each other even though some of us moved to different cities/countries over the years. however, the rest my brothers and sisters have kept their portion of the property that they inherited up to date. since recent years, there has been talk among my brothers and sisters to sell the entire property. although i gave up my portion of the property i assumed that my family would consider offering me at least minute portion of the sales proceeds (possibly the proceeds from the few yards of common roadway in the middle of the property which was not split among the siblings) since i saved the property many years ago and as a result all my brothers and sisters were lucky to have an inheritance. now more than 25 years after i saved the property, my family has sold the entire property and split the proceeds equally among the six who continued to hold their portion and excluded me completely. they kept me in the dark throughout the entire sale and did not care to tell me that they had actually sold it until they had moved to different houses after selling. my husband and children were shocked as we always thought better of my family and never though they would be so ungrateful.. all this has really hurt our feelings, the elusive way my family acted and being deprived of a chance to visit the house i was born and grew up in for one last time, both for sentimental reasons and also as i held more value for the family house and property since i had saved it as a young girl many years ago..but when reproached, my family says that i have no right to the property anyway and they have no obligation to let me know how or when they sold it. of course this may seem right from a legal point as i gave up my portion of the inheritance. i never expected an equal portion of the sales proceeds! however, from a humane point of view, shouldn’t my family have more heart and be more compassionate? especially since we always seem to be closer than most other families. (for instance, when i gave up my portion of the property to my sister, we didn’t even sign a contract or sell it at the market rate.) now, the relationship between me and my family is quite strained as they seem to believe that all i want is money..but all i really want is to be acknowledged as the one who made it possible for the rest of my siblings to benefit from the property i saved and some gratitude for it..is that wrong? now, some of my brother and sisters have offered a small sum of money (1% from the sale proceeds) to me.. my own family is just making ends meet after my husband lost his job and the money would be very helpful, but i don't know whether to take it or not after all that has happened.. would accepting the offer make it look like that it was the money that i wanted after all?

Your Answer: Wow thats a really tough situation! I feel the same way rather often. Like with my dad's family, they always seem to disapprove of me. When my fiance and I conceived our first child I figured they would hate me and run me down at the Christmas celebrations because they don't like him. I always get money for Christmas and I considered not accepting any of it if it seemed that they were only giving it to me out of pity or because they thought that was all I had visited for. It turned out they were supportive and there was no awkardness. But I'm in the same situation as you. We can barely make ends meet and my family is rather well off so the gifts they give aren't paltry. It would have been hard to refuse. I figured though that if we can't make things work on our own then we have no right to start a family. I would rather struggle through and be happy with my choices than to accept money from a family who is just going to talk behind my back later on. I think you should talk to your family, (coincidentally I come from a family of 7 children as well so I know how hard this will be) get all your siblings together and present your point of view and why you feel justified in your irritation. I think it is perfectly logical that after saving the property with your own money that you would receive a share of the selling price. As a sibling you should have been consulted just as a matter of love and respect between family members. If they can't understand those concepts and offer the money because they feel you were genuinely cheated, then I don't think you should take it. It is up to you, but I think if you take it and you know they're just going to keep thinking all you wanted was money then better to sacrifice the money than your pride. You can make it by, but you can't get your pride back. You'll just know in the future what kind of people your siblings really are and you'll be a better person for it.

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I lost my home in march. high winds caused by a large, windy storm caused my neighbors tree to fall on my house. it caused significant damage, damaging the roof, a few rooms, extensive floor beam damage, beam support damage, and floor beam damage. the house was deemed condemned by the city. they ruled it as an act of god. we hired an adjuster to deal with our insurance claims and our insurance in general. he stated that he was going to receive 10% of the money that he got us from the insurance. we never signed an official contract with him, nor did we sign any documentation besides checks we received from the insurance. we are a family of 8 and we temporarily moved into a hotel in 2 separate rooms. we stayed there for a period of 5 weeks while we waited for the adjuster to help us get money from the insurance so they can pay for us to move into a rental home. we could not afford to pay for the mortgage on our damaged house while paying for the rent on the rental home. he promised us that the insurance would provide money so we could feed our family. instead, i ended up being over drafted on my account for an amount of approximately $6000.00 for meal expenses. during this time we tried to save money by cooking food and bringing it into the hotel, but the hotel would not allow us to. due to accumulating over draft charges on my account for all the expenses, i ended up having to use the money the adjuster got us for rent on the new home towards settling my negative balance while paying for the rent on the new home out of my pocket. he gave us a final estimate with the percent of money he is getting from us a few days. in the percentage that he claimed was the money that our insurance gave us for living expenses such as food and rent. my question is this: he states that he is allowed to claim 10% but what does this entail? when we initially hired him, we agreed that the 10% is based on the money that he will get us for the house not for the rent on the home, the hotel, and the money given to for living expenses. he also talks to us in a condescending manner and states that we are ungrateful for what we has done for us. he made us save all of our food receipts while we bought take out food while we were at the hotel, but we received no money for this. my dad recently was recently laid off from his job as a senior architect, because the contract was completed so we need all the money we can get to hold us over while i finish up college and he searches for a job. many thanks for taking your time to read this and thanks in advance for the response i hope to receive. wow, i had no idea that we messed up so much. we panicked when all of this happened and we listened to our neighbors that had similar homeowner's issues. they told us that dealing with the insurance was the biggest hassle. we panicked from our previous insurance bouts with cars and so forth.

Hiring a public adjuster, BEFORE you get your offers from your insurance company, is throwing your money away. I guarantee you, public adjuster isn't going to start working on this case, UNTIL someone signs that contract agreeing to pay them - so you saying nothing was signed, is NOT TRUE, if this adjuster is working your case. Flat out. Maybe you just don't realize that dad - or mom - signed the contract. The adjuster doesn't usually get you any extra money - but he's read the policy form, and knows what you're actually entitled to. Loss of use, the insurance company should have started paying right away - UNLESS there's a coverage issue. You don't get TOTAL grocery bills. After all, you were buying groceries before. You only get "increased costs". ADDITIONAL expenses. What you agreed, is clearly in writing. You put it in writing, he turned it in to the insurance, and the insurance is going to pay HIM FIRST. Typically, it's 10% of the TOTAL CLAIM. The whole shebang. Loss of use, additional living expenses, debris removal, and cost to fix the house. So, if your entire claim is $100,000, and you have a $1,000 deductible, you will actually get $89,000 - his cut first, then your deductible, and you get what's left. Next time, before you jump to hire a public adjuster . . . use your agent. Your AGENT can do whatever the PA can do - for free, and MUCH, MUCH faster.

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Bailing out all these people who got into these subprime mortgages for example, they signed the contract, they saw the terms, now they wanna cry b/c they can't afford the high interest and are losing their home. it's called living within your means, if you cannot afford the mortgage then don't buy the damn house. why should those people's bad financial problems be the rest of our problems? as for the economy, in my town it is booming, unemployment is at a record low in the area, and new jobs are coming to the area as i speak. if there are no jobs where you live, then move or get a longer commute, and get off the welfare. aww i love you too philospher :-)

The only sympathy I have for some folks is that the ones who have been honest and responsible are getting screwed as well while the irresponsible and greedy ones that fouled everything up are getting bailed out. Other than that, I agree 100%. People are lazy and expect the world on a silver platter, so the idea of actually looking for a job (or maybe 2 or 3), and maybe taking something a little less that what they want until a better opportunity comes along is unspeakable. For some reason, the majority of Americans have settled into this notion that the middle class lifestyle is the minimum acceptable standard, and this also applies to people who complain about the welfare system. It's not just housing, food, and water, but the idea that everyone should have a house, eat out all the time, have nice high-dollar clothes and car, etc. It is destroying us. People need to take a look at how Americans made it through the Great Depression or research what real poverty is such as that in Africa or India. Maybe they would change their tune a bit. Then again, probably not. And to the post above... yes Bush signed the bailout into law AFTER the Democrats in Congress pushed for it, added billions of dollars in pork to it, and voted for it. Now they complain about the lack of oversight for the money, yet THEY were the ones that voted for it. They called Bush's economic stimulus payments a gimmick to win votes that would never work (which was, in fact, true), yet now their beloved messiah is proposing the same thing and Dems are tripping over each other to suck Obama's toes and lick is @$$crack in praise of the idea. Libertarian party anyone? Less government & more freedom.

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Hello, i'm currently doing a loan modification. i hired an attorney-backed company six months ago to handle the matter for us. so far, we have been very displeased with the service. long story short, we own two properties. the lender is gmac. one property (our investment) has already been modified as of three weeks ago. the second one is taking forever! i had entrusted that the company was doing their job. however, six months later, we're getting nowhere it seems like. basically gmac asks for financials, we fax it right away to our loan modification company, then we later found out gmac never received them for whatever reason. and according to the loan mod firm, gmac keeps losing our paperwork! when i signed the contract with the loan mod company, we were current on all payments. now, six months later, my property that i currently live in just had a notice of default filed last weekend! i forwarded this information to the loan mod company. apparently the loan mod company failed to include both mortgage account numbers in the financial info they faxed over to gmac over a month ago. so therefore, the faxed info only got applied to my other account which is the one that was just modified and not my owner occupied residence which is why we're still struggling to get it modified. so the loan mod co refaxed it to them about three weeks ago. and we were told it would be 15 working days before we get any answers. yesterday, we find out that they never got the fax!!! so i'm now 90 days away from foreclosure. and i just spoke to gmac and since my property taxes are late, they are now applying for an escrow account. they said at this point, it should be another 4-6 weeks total before we get an end result. so as you can see, it's been nothing but delay after delay after delay. the loan mod company is not doing their job in following up with gmac to make sure they got the paperwork. i'm worried sick to my stomach. i don't want to lose my home, especially due to someone else's stupid mistakes!! i can no longer trust the loan mod company to do the right thing for us. they assure us they're doing everything within their power and that some loans take longer than others. just depends. in my opinion, it should have never taken this long! it is very obvious to me that it was due to their lack of following up with gmac that things are taking forever! six months and no loan mod yet!!! ridiculous! we are perfect candidates in every way. if done properly, i know for a fact that we will get a mod. basically my question is, now that i have an nod and it could still potentially take 45 more days for the loan to be modified and not trusting the current company that's handling my loan, should i seek another attorney? should i just stay persistent and make sure everything is being handled? i'm at a total loss here. i heard that gmac is helping just about everybody out. my biggest worry now is that we're now 90-100 days away from foreclosure. just need to make sure our situation is being handled properly in the right hands. please advise!! try2help, wow, you nailed it right on the head!! thank you for your input! i am embarrassed to admit, but i am a loan officer. well, i am going back to my career for now which is more profitable nowadays for me. just closed my last fha loan last week. basically lots of my clients were coming to me saying their lenders were of no help to them when their loan recasted. so therefore, i felt i should hire an attorney-backed loan mod firm to have the experts do the job.....wrong!! i have a mortgage background. and now that i've stepped in, i see it's nowhere near as difficult as i've heard from others. in fact, i now regret not taking this step myself!! i know i could have done it myself! i just hope it's not too late!!!!! landlord, i do blame the company in part for all this. yes, i understand what you're saying. but since we did pay a hefty up-front fee, we expected better service than this. if the bank did not receive a fax.....then why is it taking the loan company three weeks to find this out each and every time?? every time i talk with gmac, they say it takes 72 hours to upload any faxes into their system. why is the loan mod company finding out three weeks later? because they're not doing their job in properly following up on anything they fax over to gmac. so now, i'm stepping in to make sure they are receiving what they need and get this over with before i lose my home!

I did not read this entire novel. However I can tell you, this is not the companies fault. The banks have everything spread out all over the friggin' place. Expect to fax anything to them at least 3 times.