Can lender challenge loan data after closing?

The mortgage meltdown has brought a return to the process of proper verification of a borrower's assets. But just how long is the information stated on your home-loan application considered valid? If you retire or lose your job after your loan closes, can the lender demand payment in full?

Those questions, and others like them, were raised recently by a longtime nurse whose lender demanded that a "reverification form" be signed at closing. She was especially concerned because she had already given financial information -- bank deposits, stocks, income -- at the time of application.

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