Anonymous
Anonymous asked in Business & FinancePersonal Finance · 1 month ago

Will the bank let you mortgage your house without a job?

Long story short, I own my own home (completely paid off) But I’m thinking I might need to mortgage it sometime next year because I need money.

My mother is a narcissistic psychopath and will not let me get a job. I’ve been trying to get a job, But when she found out that I had attempted to start my own business she raised holy hell. I have a show car that I store over at her house which I thought to sell instead of mortgaging my home, but she is forbidding me to sell that even though the car is in my name only.

The reason I’m thinking about mortgaging my house is because she wouldn’t know. I could keep it a secret, whereas if I sold stuff around my house she would know about it.

Before you say “just sell the car because your mom can’t stop you“, You need to understand what a nut job my mother truly is.

I’m 34 years old and have to text my mother when I’m going to go take a shower because if she textS me while I’m in the shower and I don’t respond within that 30 minute time frame that I’m usually showering, she will send my father to my house to find out what’s going on with me. She has totally emasculated him and turned him into a full blown alcoholic who barely has the will to live

Update:

She is against me having any job, not just against me starting my own business. My father told me that after she bitched to him about me trying to find employment

6 Answers

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  • 1 month ago
    Favorite Answer

    If you go directly through a bank, then most likely (certainly) not.  Find a mortgage broker, however, and discuss your situation. One that has been in the business for decades will have seen many situations and may have a solution for you.  The conversation is free.  

  • Eva
    Lv 7
    1 month ago

    Grow a pair and stop telling mommy everything you're thinking about doing. If you have to, sell your house and the show car and move far, far away.  She can only control you if you let her.

  • 1 month ago

    If you have no income, you won't get a mortgage (as you have no way of paying it back). 

    You don't have to let your mother dictate your life choices, or even info your house. Get a job or do something else - or you might as well give up on life. 

  • 1 month ago

    Generally, no, because you don't have any way to pay what you will owe on the mortgage.

    One exception is reverse mortgages, because you don't pay on them until you move or die, but you can't get them until age 65.

    On other subjects:

    1. Considering moving and not telling her where your new home is.

    2. Don't shower for so long.  Waste of water.

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  • DON W
    Lv 7
    1 month ago

    To obtain a mortgage, you need to show proof of a steady income.  No steady job means no mortgage.

    By the way, there's a lot of difference between getting a job and trying to start your own business.  Getting a job typically means working for someone else with a regular paycheck, and hopefully benefits such as a health plan and retirement.  The job can range from flipping burgers to being university president.  The only risk is that you may be fired, in which case you get another job.  Starting your own business is one of the riskiest things you can do, with most new businesses failing, and the owner losing their investment.  Even if the business is successful, there's no regular income (the business has its ups and downs), and the only benefits are those you purchase for yourself from whatever profits there are.

  • Anonymous
    1 month ago

    Of course not. You would have no way to pay. Maybe a reverse mortgage when you are 70.

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