This is pretty badass. Here's a real world example: Try getting a mortgage if you've been self employed for less than two years. It doesn't matter if you can put 20% down and still have sufficient liquid assets to make 5 years worth of payments. Or if you have guaranteed billing contracts. The models most banks use (b/c they're the Fannie/Freddie models) assume you have no income and are therefore not credit worthy.
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This is pretty badass. Here's a real world example: Try getting a mortgage if you've been self employed for less than two years. It doesn't matter if you can put 20% down and still have sufficient liquid assets to make 5 years worth of payments. Or if you have guaranteed billing contracts. The models most banks use (b/c they're the Fannie/Freddie models) assume you have no income and are therefore not credit worthy.
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