U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 05-25-2014, 10:44 AM
 
1 posts, read 1,275 times
Reputation: 10

Advertisements

Hi
I'm a first year teacher on non-continuing contract. I was told everyone who was hired first year is non continuing at my district. We're buying a house and I'm submitting paper work to underwriter yesterday. Our house will close in 3 weeks. What is my chance of getting deny on this? Everything else is fine, I have good credit score, debt ratio is fine, I have 6+ months on reserve. I'm so stressed about this and wonder if there's anyone experience this who can help out. My husband has a great stable job making almost 90k a year. But we need both our income to buy this house since we not selling our current home.

Please help
Rate this post positively Reply With Quote Quick reply to this message

 
Old 05-25-2014, 02:57 PM
 
Location: Des Moines Metro
5,105 posts, read 7,442,534 times
Reputation: 9735
Quote:
Originally Posted by Misscuttie16 View Post
I was told everyone who was hired first year is non continuing at my district.
Can you count on the person who told you that? If it was the principal or a senior administrator, it might be correct. If it was an office worker or someone in HR, I would look into that statement much further to be sure.

Otherwise, for safety, you might consider getting a home that can be supported with just your husband's income, given ongoing problems in the economy.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 05-27-2014, 06:11 AM
 
Location: MID ATLANTIC
8,296 posts, read 21,092,105 times
Reputation: 9647
You are this far into the school year and you don't know if you will be picked up for the 2014/2015 school year yet?

When verifying employment, one of the questions pertains to the probability of continued employment. If that question is asked/answered with something other than an affirmative answer, the lender should be contacting you for additional documentation. As many states are "at will" employment states, a contract to the end of time is not likely. If it's known you won't be picked up for the next school year, chances are that will be discovered by the lender.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 05-27-2014, 06:08 PM
 
34 posts, read 44,339 times
Reputation: 35
I'm curious if this also applies to a new job with a 3 year union contract??
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages

All times are GMT -6. The time now is 03:03 PM.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top