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JOB LOSS AFTER HOME CLOSING
WHAT IF I LOST MY JOB AFTER I JUST BOUGHT A HOME?
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1 Reply
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If you lose your job right after buying a home, it’s important to act quickly. Here are some steps to consider:
- Contact Your Lender: Your lender will transfer you to the workout department. The workout department will work with you and give you a loan forbearance or loan modification until you find new work.
- Inform them of your situation; they may offer forbearance or other options.
- Review Your Finances: Determine how long you can cover mortgage payments with savings.
- Unemployment Benefits: Apply for benefits to help with income.
- Seek New Employment: Start job hunting immediately.
- Staying proactive and communicating with your lender is key to managing the situation.
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This reply was modified 2 months, 3 weeks ago by
Sapna.