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Thread: to buy a house or rent and how do I?

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    Member jasminebg's Avatar
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    Default to buy a house or rent and how do I?

    Hola ladies, let me give you a litttle info on my situation. Ive been with my man for 6 yrs now unmarried, but thats ok, i dont believe in having a piece of paper saying it and I dont want to deal with jointly costs etc. But we have moved twice.one a apartment the other a small cottage. But Now I want to move into a bigger house. I just dont know how to avoid the qualifying aspects to get it. I mean I make money but I cant tell the landlord what I do. My credit report is no problem, so how do you deal with this? Does anyone rent/own a home. I would like to hear it.
    thanks have a beautiful day
    pink lemonaid

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    God/dess Zofia's Avatar
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    Default Re: to buy a house or rent and how do I?

    In today's mortgage market you need verifiable income, preferably a W-2 and 20% down payment. You also need excellent credit. Even with all that, home loans are not rolling out like they once did. Owner financing has come back though. The standards are still high, but it of course depends on the desperation of the seller. If you are looking at owner financing know how long a house has been on the market. Talk to a realtor about the owner financing possibilities in your market.

    HTH
    Z

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    Default Re: to buy a house or rent and how do I?

    Is it really so bad to say you're an exotic dancer? What does anyone really care, as long as you can pay the mortgage and everyone (bank, seller, brokers, etc.) makes money on the deal?

    I would expect that Cali is very liberal and this wouldn't be such a big deal, but I could be wrong. Of course, you might have to overcome some stereotypes, by demonstrating that you've been dancing consistently for several years, have had stable income and have no criminal record.

    You could incorporate your business - give it a name that implies its a marketing/sales business, and then have it pay you wages and issue you a W-2, and give yourself a title like - "Sales Manager" - and if asked, say you're in marketing and sales. But, that seems too burdensome.

    You should probably visit a few banks, find a young male banker, charm him, be honest about your work, and hope he is professional about it. There are all kinds of bankers, look around until you find one that is professional, non-judgmental and helpful.

    Another option is to get someone else, like your parents, take out the mortgage in their name, but I suspect that's not the ideal situation.
    Women are meant to be loved, not to be understood.
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    Default Re: to buy a house or rent and how do I?

    Does your state recognize commonlaw marriage? If so, he could be entitled to half your home together. I know Cali is big on 50/50 split in divorce.
    “What a caterpillar calls the end of the world we call a butterfly.” - ECKHART TOLLE

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    Default Re: to buy a house or rent and how do I?

    Is it really so bad to say you're an exotic dancer? What does anyone really care, as long as you can pay the mortgage and everyone (bank, seller, brokers, etc.) makes money on the deal?
    For better or worse, these days it DOES matter ...

    Point #1 - A typical mortgage runs for 30 years. Good luck convincing a bank loan officer that you'll still be able to earn big bucks as an exotic dancer when you're age 55 to finish making those mortgage payments.

    Point #1 - thanks to well publicized credit card loss incidents plus years of poor financial history, banks list any 'adult business', including self-employed exotic dancers, as being 'high risk'.

    I own two homes - one in NY and one way south of the border ... but both were paid for with 'cash' !


    Also Zofia is on the right track in regard to exotic dancers typically having much less problems pursuing 'mom and pop' landlords versus corporate landlords, as well as pursuing 'owner' financing versus bank financing.

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