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Can a lender revoke my loan two months after closing

When we got approved for the mortgage loan, my husband was out in medical leave, we got the loan in a promise it was going back to work and we will have to send to the lender a copy of his first paystub that his working. A week after mortgage close and we move in the house, my husband's doctor want him out of work for another 3 months.Now is been two months, we already pay the first month in our mortgage. this morning I got a call from the lender asking if my husband did'nt go back to work they will revoke my loan. Is this possible. I have the house deed, the title was transfer to our name. Please help. by mfv0924822 from Brooklyn, New York. Aug 6th 2018 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,428 contributions

More than likely, you will be fine.. If your loan is any type of conforming loan, then they cannot revoke the loan.. But if you did a hard money type loan, then it might be possible.. regardless, you need to look at all your paperwork, i'm sure there is nothing in there that deals with the repercussions if he did not go back to work inside of the allotted time period. Typically, the only way your loan can be rescinded is if they can prove loan fraud. There's nothing fraudulent about the doctor stating he wants him to stay out of work for another 3 months.. If the loan was made on they promise he would go back to work after his medical leave, then more than likely, they made their decision based on a letter from your doctor. They should have know that it's possible he might not be ready to go back to work after reevaluation.. Their problem, not yours. But you need to look over all your paperwork and see if anything you signed had to do with this condition.. read the details thoroughly.. When they call back, you will be more informed and less likely to fall for their bullying.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

Aug 6th 2018
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Thank you for answering, I will review all the documents.I will definitively along your info William.

Aug 6th 2018
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