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Loan Company Verifing Employment Question

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Filed: K-1 Visa Country: Netherlands
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I have a question...does anyone know what a loan company is allowed to ask and not to ask of your current employer?

Specifically, we are buying a house out of state (we are currently in California). The loan company will want to verify my employment here, which is fine, however....they wanted to know if I have a new job in the state we are relocating to. No, I don't.

Now before anyone jumps to conclusions, we have well enough money to buy the place outright already in the bank, but for personal reasons have decided to finance a portion of it. Making the monthly payments is not really an issue for us at this time.

I told them I would be telecommuting until I find a new job. Do you think they might ask my current employer if I will be telecommuting? I know to verify employment for a new job, they can only ask how long you have worked there, what your title is and how much you make. Anyone know if the same type of restrictions apply to a loan company?

Please don't bash me for asking this...I just need some informative answers.

-Blu-


Service Center : California Service Center

Consulate : Amsterdam

02-27-09: I-129F Sent

03-10-09: I-129F NOA1

06-10-09: I-129F NOA2

06-17-09: Rec'vd by NVC

06-18-09: STUCK IN NVC AP

06-25-09: FINALLY petition on it's way to the embassy

06-29-09: DHL delivered our packet to the embassy in Amsterdam

07-01-09: Rec'd Packet 3!!!!

08-01-09: Rec'd Packet 4

08-25-09: Interview date...APPROVED!!!!

12/12/09: Fiancee arrival date WOOOT!

02/20/10: Married and SOOOO happy!

04/20/10: Sent off AOS (finally!)

05/03/10: Rec'd AOS NOA1

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Filed: AOS (pnd) Country: Canada
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They can ask for your employment status with the company and your salary information.

Loan companies have a little more leniency in what they can ask your employer, because they are taking a huge and inherent risk in financing you. It's in their best interest to get as much information as possible.


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Filed: K-1 Visa Country: Netherlands
Timeline

They can ask for your employment status with the company and your salary information.

Loan companies have a little more leniency in what they can ask your employer, because they are taking a huge and inherent risk in financing you. It's in their best interest to get as much information as possible.

Thanks! I don't have a problem with them asking whatever they want. I have been completely upfront except that my employer has NO clue at this time that we are moving, and I WON'T be telecommuting. I mean, I guess if it becomes an issue (the telecommuting part) I can tell them my husband is moving there right away, and I will stay working here, until I secure a job there. I just hope they don't ask at all.

-Blu-


Service Center : California Service Center

Consulate : Amsterdam

02-27-09: I-129F Sent

03-10-09: I-129F NOA1

06-10-09: I-129F NOA2

06-17-09: Rec'vd by NVC

06-18-09: STUCK IN NVC AP

06-25-09: FINALLY petition on it's way to the embassy

06-29-09: DHL delivered our packet to the embassy in Amsterdam

07-01-09: Rec'd Packet 3!!!!

08-01-09: Rec'd Packet 4

08-25-09: Interview date...APPROVED!!!!

12/12/09: Fiancee arrival date WOOOT!

02/20/10: Married and SOOOO happy!

04/20/10: Sent off AOS (finally!)

05/03/10: Rec'd AOS NOA1

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Anyone know if the same type of restrictions apply to a loan company?

They can ask pretty much anything they want - your employer might/might-not choose to answer certain questions.

Will they ask about the non-existing telecommuting? Who knows - maybe.

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Filed: K-1 Visa Country: Netherlands
Timeline

They can ask pretty much anything they want - your employer might/might-not choose to answer certain questions.

Will they ask about the non-existing telecommuting? Who knows - maybe.

Jeez...I hope they don't ask...my employer will think, "####### are they talking about?" I don't know any way around it right now though. Even though we are putting a large downpayment down, this could screw us up. Now I am gonna sit on the edge of my seat, on pins and needles until I KNOW we have the loan.

-Blu-


Service Center : California Service Center

Consulate : Amsterdam

02-27-09: I-129F Sent

03-10-09: I-129F NOA1

06-10-09: I-129F NOA2

06-17-09: Rec'vd by NVC

06-18-09: STUCK IN NVC AP

06-25-09: FINALLY petition on it's way to the embassy

06-29-09: DHL delivered our packet to the embassy in Amsterdam

07-01-09: Rec'd Packet 3!!!!

08-01-09: Rec'd Packet 4

08-25-09: Interview date...APPROVED!!!!

12/12/09: Fiancee arrival date WOOOT!

02/20/10: Married and SOOOO happy!

04/20/10: Sent off AOS (finally!)

05/03/10: Rec'd AOS NOA1

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Filed: Citizen (apr) Country: Ukraine
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I have a question...does anyone know what a loan company is allowed to ask and not to ask of your current employer?

Specifically, we are buying a house out of state (we are currently in California). The loan company will want to verify my employment here, which is fine, however....they wanted to know if I have a new job in the state we are relocating to. No, I don't.

Now before anyone jumps to conclusions, we have well enough money to buy the place outright already in the bank, but for personal reasons have decided to finance a portion of it. Making the monthly payments is not really an issue for us at this time.

I told them I would be telecommuting until I find a new job. Do you think they might ask my current employer if I will be telecommuting? I know to verify employment for a new job, they can only ask how long you have worked there, what your title is and how much you make. Anyone know if the same type of restrictions apply to a loan company?

Please don't bash me for asking this...I just need some informative answers.

-Blu-

Basically they can ask whatever they want. Your employer is not obligated to disclose anything and usually only disclose that you work there and a position. They will not always disclose income and prefer that you do that with check stubs. whether they are allowed to ask, by law (which can vary from state to state) is of little value. They can ask what they want, the law is not self enforcing.

Jeez...I hope they don't ask...my employer will think, "####### are they talking about?" I don't know any way around it right now though. Even though we are putting a large downpayment down, this could screw us up. Now I am gonna sit on the edge of my seat, on pins and needles until I KNOW we have the loan.

-Blu-

You may want to let your employer in on the story.

They can ask for your employment status with the company and your salary information.

Loan companies have a little more leniency in what they can ask your employer, because they are taking a huge and inherent risk in financing you. It's in their best interest to get as much information as possible.

They can ask questions and get answers until the person answering declines to answer any more questions.


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Filed: Other Country: Afghanistan
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Jeez...I hope they don't ask...my employer will think, "####### are they talking about?" I don't know any way around it right now though. Even though we are putting a large downpayment down, this could screw us up. Now I am gonna sit on the edge of my seat, on pins and needles until I KNOW we have the loan.

-Blu-

I've made some assumptions, let me know if I'm right or wrong.

1. You are moving no matter what.

2. You will be leaving your position no matter what.

3. You trust your employer.

If the above are all true why not speak with your employer. If they are nice you could probably get them to agree to not comment on the telecommute question if it pops up.

Edited by Sousuke

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Filed: K-1 Visa Country: Netherlands
Timeline

I've made some assumptions, let me know if I'm right or wrong.

1. You are moving no matter what.

2. You will be leaving your position no matter what.

3. You trust your employer.

If the above are all true why not speak with your employer. If they are nice you could probably get them to agree to not comment on the telecommute question if it pops up.

You assumptions are correct. I have been thinking about talking to my employer actually. But I am afraid that if I give it away too soon, they will just decide to let me go early. I have been a good employee and I am the Accounting Supervisor here. Even though I am on good terms with my employer, that bit of paranoia is still there. I will think about talking to him more though. This is a scary time. I am buying this house on my own, as my husband (of course) has no transferable credit rating from Europe and cannot work yet. Just freaking out a little. LOL.

-Blu-


Service Center : California Service Center

Consulate : Amsterdam

02-27-09: I-129F Sent

03-10-09: I-129F NOA1

06-10-09: I-129F NOA2

06-17-09: Rec'vd by NVC

06-18-09: STUCK IN NVC AP

06-25-09: FINALLY petition on it's way to the embassy

06-29-09: DHL delivered our packet to the embassy in Amsterdam

07-01-09: Rec'd Packet 3!!!!

08-01-09: Rec'd Packet 4

08-25-09: Interview date...APPROVED!!!!

12/12/09: Fiancee arrival date WOOOT!

02/20/10: Married and SOOOO happy!

04/20/10: Sent off AOS (finally!)

05/03/10: Rec'd AOS NOA1

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Filed: Other Country: Afghanistan
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You assumptions are correct. I have been thinking about talking to my employer actually. But I am afraid that if I give it away too soon, they will just decide to let me go early. I have been a good employee and I am the Accounting Supervisor here. Even though I am on good terms with my employer, that bit of paranoia is still there. I will think about talking to him more though. This is a scary time. I am buying this house on my own, as my husband (of course) has no transferable credit rating from Europe and cannot work yet. Just freaking out a little. LOL.

-Blu-

Oh, I see! He isn't working yet. If I were in your shoes I might do what you mentioned early - let the loan company know that your buying the house as more of an investment and that you don't intend to live in it full time for a few years and will be remaining employed in CA.

Whats your plan when you move...career-wise?

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Filed: K-1 Visa Country: Netherlands
Timeline

Oh, I see! He isn't working yet. If I were in your shoes I might do what you mentioned early - let the loan company know that your buying the house as more of an investment and that you don't intend to live in it full time for a few years and will be remaining employed in CA.

Whats your plan when you move...career-wise?

Well, the loan company wanted it to be our primary residence and NOT an investment property. I am fine with that, but it does create this employment issue.

Once we move, we plan on opening a tattoo/piercing shop in a nearby town. I will be going to piercing school soon. My husband has been a professional tattoo artist for many years. Plus, if times get tight, I can always go back into accounting (which I actually hate, lol).

-Blu-


Service Center : California Service Center

Consulate : Amsterdam

02-27-09: I-129F Sent

03-10-09: I-129F NOA1

06-10-09: I-129F NOA2

06-17-09: Rec'vd by NVC

06-18-09: STUCK IN NVC AP

06-25-09: FINALLY petition on it's way to the embassy

06-29-09: DHL delivered our packet to the embassy in Amsterdam

07-01-09: Rec'd Packet 3!!!!

08-01-09: Rec'd Packet 4

08-25-09: Interview date...APPROVED!!!!

12/12/09: Fiancee arrival date WOOOT!

02/20/10: Married and SOOOO happy!

04/20/10: Sent off AOS (finally!)

05/03/10: Rec'd AOS NOA1

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