Wednesday, June 2, 2010
If you are a business owner and want to buy a home,make sure to always pay yourself a salary or a bonus,no matter how good or bad business is
Are you a business owner? Pay yourself as though someone else is your boss. Even if business is slow,at least give yourself "a bonus" (less than what you regularly pay yourself) to show consistent income (even if not a consistent level). Without doing this you can damage your credit score. One of my clients didn't pay ...themselves (co-owners of a business) for 4 months,during the rough winter and consequentally,at this point in time cannot get a loan.
Below is a link with an interesting article on this subject:
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By the way,if you know anybody in Maryland or Washington,DC looking to sell or buy a home,I always have time for their referrals.
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