We are in California and I have a listing that has 2 loans 1 with US Bank and 2nd with Bank of Stockton.

My client's job was termintated and he will be receiving a severance package. On is last check it shows that he was paid for sick leave and vacation about $7800 and they have about $4500 in the bank. I believe they will be getting a biweekly check for about 15 weeks until severance is paid out. Their expenses with house payments are $8,594 and now that his income has terminated I am not sure how to handle the severance pay?.

He is checking out unemployment and I believe he will be getting that. They are concerned with the severance package that they would not qualify for a hardship. Her income is $3792, so even if he got another job that paid around the same they would have a short fall.

My biggest concern is how to handle the severance package and $12,300 in thier bank, of course they will funds to relocate,  any suggestions would be helpful.

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Just place it on the financial statement and attach a letter explaining that it is temporary. There's really nothing else you can do. It is what it is. It shouldn't make any difference to the lender since the borrower is now unemployed.

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