“Banker Referral Partner Needs Help”
I was attempting to demonstrate that Anthony was working for his father prior to becoming a certified barber. He has 1 year under his belt, being self-employed. Unfortunately, his dad did not pay Anthony in a “trackable” manner. The wife has stable income.
Do you have a conduit for using a YTD P&L or bank statements (or stated income) for such a transaction with someone being self-employed for 1 FY?
Both Borrower and Co have strong credit in addition to $15K of cash on hand.
Anthony may be reached at 860-XXX-XXXX, if you believe that you may have a lending outlet for him.
The bottom line is our bank cannot do a mortgage for these clients.
When family members are paid under the table, thinking they are doing someone a favor they are truly doing harm.
Fortunately, this is a doable transaction, but it could have been so much easier.
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
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