Okay, hello. let me give it to you in a nut shell. I place an offer on a home 224,500 foreclosure and needs some repairs. I have a bank that may fiacne the house. we place in contract to have bank to fix repair so that it may go smooth with FHA guidelines, but declined. Bank willing to drop price to 215,000 (which is a steal for this house that sold for 500K). My ratios are tight due to the taxes on home 41/41 but , I steal got a preapproval. The reacessments of taxes are at the end of Aug. and hoping it helps me out with ratios. Okay i think my problem may be is that I own another home , been on the market for sale but unable to sale. But plan to use it as a rental. I been a nurse for 7 years at primary job, I pick up to side jobs at the march. Do you think banks may consider that income? And my primary job I make enough to cover both mortages, But i would like for the bank to consider the other incomes as well ? I have the money, credit and do you think it may fly. I have paid my car down to reporting less then 10 months payment and the only other thing I have on my credit is my mortage that I have never skipped a beat with. Any advice anyone?? thank you for time and advice.
