07-23-2012 09:20 AM
I have another question out there but this is more concise.
Should there be any issue with me getting a loan when I am a w-2 Employee with a business that was recently sold to my family (100% assets are going to be my husbands).
For 5 years, I was w-2 under the former owner (he passed away earlier this year), and I will continue to be w-2 under the family owned business part as well (approx 3 mo under our ownership). I will be the only one on the loan, not my husband.
07-24-2012 10:01 AM - last edited on 07-24-2012 07:54 PM by MarineVietVet
That should not be a problem as long as we can document employment with your W2's and probably a letter of explanation. Mod Cut
07-24-2012 10:05 AM
Thanks Bart - I may do just that.
I did get preapproved with BOA (which was required to go thru the offer process as it was a bank owned property), but I have a feeling if it went through underwriting it would get stuck. We have plenty of funding and I even have $50K in outstanding monies to the new organization. w-2s averaged $150K for past 2 years. I just hope someone can see that I'm good for it but I understand the cause for concern.
Will see if we get accepted on the offer, and will absolutely message you. Thank you for reaching out.