I was just laid off, is it possible to continue with my close or am I eligible to get escrow deposit back?
Hi, I just got laid off. Scheduled to close on a new KB Home in CA in about 30 days. I have already turned in all papers, W2, paystubs, etc and have been loan approved already. Question: Can I still close? can I get my 3% deposit back due to unexpected hardship that is no fault of my own? by davidpollin from Temecula, California. Mar 23rd 2010
Eddie Stephen (EdtheLoanGuy)
#12 ranked lender in Colorado - 24 contributions
Every investor out there will verify your employment withing 24-48 hours of closing, so even though you've turned everything in, they will find out in the 11th hour you do not have a job.Typicall you should be able to get your money back, because you no longer qualify for the loan you were approved under. Let them know the situation and most likely they will give you your deposit back. If they choose not to, a little bit of bad press goes a long way and KB doesn't want that right nowEmail me if you have further questionseddie@edtheloanguy.com
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