tag:blogger.com,1999:blog-3410426500658221613.post1162031647556417505..comments2022-11-13T07:58:11.823-05:00Comments on Elizabeth Singleton asks: are you for REAL???: Decisions, decisions.....Elizabeth Singletonhttp://www.blogger.com/profile/16783873977558058632noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3410426500658221613.post-7570717220921858482011-02-22T18:50:20.797-05:002011-02-22T18:50:20.797-05:00Thanks! I'm sure I will sort it out. :)Thanks! I'm sure I will sort it out. :)Elizabeth Singletonhttps://www.blogger.com/profile/16783873977558058632noreply@blogger.comtag:blogger.com,1999:blog-3410426500658221613.post-6536138765243943612011-02-22T15:50:14.479-05:002011-02-22T15:50:14.479-05:00I'm in the US. When I was a loan officer in 20...I'm in the US. When I was a loan officer in 2006-2007 it was 24 months of income for self employed applicants. However, we used their bank statements and counted the deposits to verify income. I guess that's why our housing market dumped so bad. ;) <br /><br />I'm sure you'll do the right thing =)Travelin' Mikehttps://www.blogger.com/profile/11733766056136548725noreply@blogger.comtag:blogger.com,1999:blog-3410426500658221613.post-40792569086610830952011-02-21T22:34:03.871-05:002011-02-21T22:34:03.871-05:00No, renting isn't that bad at all and I don...No, renting isn't that bad at all and I don't mind renting. But I know what I was making before and I know what I was approved for by the lender and I would have to make in excess of $50,000 to afford a house that isn't falling apart. And trust me, I'm not looking for perfect because with my construction background and handyness, I can make pretty much any repairs NO problem or with minimal expense. Not sure if you're in the US or Canada, but you need at least 3 years of proven income here if self-employed and I'm not confident I'd come close to making that right away. One of my good friends who has been running her own very successful business for 6+ years and has impeccable credit still had trouble getting a mortgage even with her husband's income of 100,000+. So I worry that I spend years working to get a house, then not get it, then have to go back to work again anyway. I'm figuring do it now (6 months- year) get the house, then do my business thing once I have it. AGH! So much to think about after a wrench has been thrown in the plan.Elizabeth Singletonhttps://www.blogger.com/profile/16783873977558058632noreply@blogger.comtag:blogger.com,1999:blog-3410426500658221613.post-84785400214448966112011-02-21T21:27:19.871-05:002011-02-21T21:27:19.871-05:00Renting is not that bad. There will be time to buy...Renting is not that bad. There will be time to buy a house. At least with renting the expense of up keep in on someone else! In two years should have the self employment income verification you need to buy a house. If you have the opportunity to be self employed go for it while you can!Travelin' Mikehttps://www.blogger.com/profile/11733766056136548725noreply@blogger.comtag:blogger.com,1999:blog-3410426500658221613.post-85201050326339376292011-02-21T19:34:51.039-05:002011-02-21T19:34:51.039-05:00**Sigh**
I do NOT want to go back to working for s...**Sigh**<br />I do NOT want to go back to working for someone else but at the same time I want to own a home again. Rock vs. hard place. Crap.Elizabeth Singletonhttps://www.blogger.com/profile/16783873977558058632noreply@blogger.comtag:blogger.com,1999:blog-3410426500658221613.post-82833877258794677892011-02-21T16:47:07.642-05:002011-02-21T16:47:07.642-05:00Go back to work. Get the house, have some savings,...Go back to work. Get the house, have some savings, then go back to being self employed.<br />You CAN do both.Just Sayin...https://www.blogger.com/profile/09086500727998442794noreply@blogger.com