Employment Separation Pay - is it Considered as Income by Some Banks?

[Nir]

Hi,

Is it true a significant separation pay (i.e. $50,000) for releasing an employee without cause due to shortage of work, may be considered as income by some banks? meaning one might qualify for a loan based on his/her separation pay even before finding a new job? meaning qualify while between jobs!?

THANKS.
ps. pls. assume an average person, not one with 500,000 net worth or profitable business who obviously might qualify without any employment income