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Tim Coppola
  • Investor
  • Chicago, IL
29
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169
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Refinancing while unemployed

Tim Coppola
  • Investor
  • Chicago, IL
Posted Mar 16 2020, 13:59

Greetings everybody,

I had started my refinancing of a 3 flat that I own about 2 weeks ago. Unfortunately I work in the restaurant industry in Chicago which means, as of today, I have been placed on furlough by my restaurant. We are still receiving health insurance but not getting paid. I've been told I can apply for unemployment while on furlough so my question is, will this directly affect the refinance process? I don't want to disrupt that process but I am not expecting this to end any time soon and at some point am going to need some sort of income.

Thanks in advance for any help,

Tim

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