The other day I posted about the underwriters that approve your loan doing a second go through right before you close. I also stated that if they see anything at all that changes they can start all over in the process of reviewing you for loan approval. At the minimum this can delay closing, also the seller could cancel the deal or you can be denied the loan.

I received the question above, what do you do if you get offered a great job?  This is a great question and you need to stop and think about it.  So naturally you have to take this great job, that is a no brainer but you also have to be pro-active with the bank. Talk to your lender or mortgage broker and explain what is happening. Make sure you put this in writing, listing the reasons you are going to take the job etc etc . Make sure that everyone knows about this upfront.

What this will do is force the underwriter to review your file before it gets to the day before closing and all questions he needs can be answered in a timely manner.

Oh and if this job offers comes up less than a week before closing, guess what… tell them you will be taking the job, but you cannot start for a couple of weeks. Do not spring this on the lender a couple of days before closing or you will be causing the delay or cancel of escrow