“Maybe We Can Find Them a Job!”
Thankfully, it happens relatively rarely — especially near the holidays — but it does happen.
Namely, a Buyer all set to close on the purchase of a home loses their job, and no longer qualifies for the mortgage.
No mortgage means no closing, and no closing means canceling moving vans, arranging for emergency housing (due to expiring leases, etc.), putting a just-about-sold (and possibly emptied out) home back on the market, and a host of other very inconvenient side effects.
Realtor/Job Finder(?)
When confronted with such a scenario, what do good, problem-solving real estate agents do (or at least think)?
“Hey! Maybe we can find them a job!”
P.S.: I was under the impression that new employees had to log a minimum amount of time (like six months) at their new job to qualify for a mortgage, but my lending sources tell me that that’s not the case.
Rather, a signed employment contract is enough.
