“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.