Inspections go harder in a lot of cases because there is no reputation built up with you and the inspector but if the work is good they will lay off after a while.

I finally got into a job where I've been for the last few years and have gotten pay raises to more than make up for previous pay cuts before and because of layoffs. 2008 changed my entire way of thinking and I doubt I'll ever feel as psychologically secure as I had in the past abouut money and security. 2008 is a major reason for getting involved in real estate, ironically enough.

Some situational pressures are a somewhat wobbly rental market due to economic conditions (Nike/Intel layoffs). 

After a layoff 1 1/2 yrs ago, my rental income once passive now has become my means of support.

Reason being1) Oil industry mass lay offs.2) Even though they are lower than california, they are 40% more than they were 3 years back - yes, a 300k home in 2012 is now at 550k.3) Property taxes are very very high especially in master planned communities (3.8 % in new areas of pearland, a suburb of houston), plus there is requirement for flood insurance separate from home owners insurance.4) cost of living has gone up a lot in Texas against other states (again don't only compare with California).

You either had a friend in HR covering for you who didn't realize there would be two requests for Verification of Employment, or the word wasn't out about layoff's yet when they were asked or the lender is taking short cuts and not asking before things got this far.

The stock market held up till 2008 and the worst of the layoffs were 2009 (that's when I got the axe).

Also banks are less likely to loan in this period of lay offs because of potential defaulting on a loan, therefore it's harder to get a loan in these times if you not only have the 2 years of work history lined up, but current employment as well too, irregardless of the savings I have and first time homeowner grants I plan to use (in my experience) .Would owner financing and hard money lending be the only way around this (hypothetically - not saying I would want to start out like this though ) ?

I’m currently in a new home myself but I’m delinquent with my mortgage due to the huge layoff impact last year.

I’m currently in a new home myself but I’m delinquent with my mortgage due to the huge layoff impact last year.