What happens if your buyer goes on maternaty leave before you close your transaction?
As of today, on FHA, a borrower’s regular, stable income may be considered as acceptable income when a maternity leave occurs. The employer must state in writing on their letterhead that the borrower’s employment and wages will not be adversely affected and will be available when the borrower returns to work. The borrower must state in writing his or her intent to return to work.
I hope this helps some of you!
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