Important Mortgage/Income question. Please help!?
by Mortgage Rates on Friday, October 29th, 2010 | 1 Comment
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You have no track record of being a
ble to pay a loan. Four months is not enough. You call it a business, so far it is four months of luck. You track record has to be longer. You will need to do a profit and loss statement. And you will have to show legitimate income, and normal expenses.
The type of no documented income you have has lead to the colaps of the banking industry. I hope the mortgage brokers are wiser now.