Contractor Julio Munoz
ContractorForum Replies Created
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What is going on with the housing and mortgage markets? Is it a good time for first-time homebuyers to buy a house? Are home prices tanking and mortgage rates surging? Is inflation still going up, and the economy in shambles? Why would President Donald Trump tell Americans to buy stocks last Thursday, and the stock market skyrocket yesterday, surging over 1,100, when everyone knows that the stock market is very volatile and overvalued? What is President Donald Trump trying to do? The stock market is by no means valued at 43,000. No way. There may be layoffs coming and revenues falling, which means many companies will lay people off, and many may face bankruptcy.
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How do you become an Illinois state trooper? What does it pay? What type of training do you need? What are the benefits of becoming a state trooper versus a Chicago or suburban cop?
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Greg Bishop reviews some of the conversations had around Illinois’ transit agencies facing a budget shortfall of more than $700 million and Chicago Mayor Brandon Johnson urging for higher taxes to help Chicago.
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Quality of dirt is important. Roller till it three times
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Chicago Mayor Brandon Johnson and Illinois Governor J.B. Pritzker continue to spread false claims about President Donald Trump, misleading the public with deliberate misinformation. Their latest lie—that Trump is raising taxes—is completely untrue. Since taking office, President Trump has not raised taxes. This false narrative is a distraction, aimed at shifting blame away from the real cause of rising taxes: the failed local policies of Chicago and the state of Illinois. It is their own tax hikes on residents—not anything done by Trump—that are driving financial strain across the nation.
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Over 12 years ago, my brother started a garden with me and that kickstarted my own passion for gardening. It’s a big reason why Epic Gardening exists today. But…HE STOPPED GARDENING! Until today. Learn along with us as we start a garden in his backyard from start to finish.
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That is great idea building it the right way. Experian Boost will help post nontraditional credit tradelines on the credit bureaus. Try self.inc. It is a credit builder account for a minimum of $25 dollars per month which reports as an installment loan and after four months, self.inc will get you a secured credit card for the amount you have on deposit. Try calling Ali Recovery Credit Repair. She has a lot of credit rebuilder program.
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Capital One has a secured credit card that, with a $50 deposit, they will give you a $250 credit limit credit card. Then if you are on time, they will keep on increasing it. Discover has a secured credit card that reports to all three credit bureaus.
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Mortgage Employment Guidelines and Gaps
Can Gaps in Employment History Affect Borrower Eligibility?
- Borrowers can qualify for a mortgage with employment gaps.
- That said, lenders have their stipulations.
Here’s how different employment scenarios alter your eligibility for a mortgage:
General Guidelines on Employment Gaps
The majority of lenders expect that:
- You provide a 2-year employment history.
- You have not had any significant gaps in the last two years, considering it has been over 30 days.
- Your current job has reasonable assurance of continued employment.
- Lossiers attempt to elicit explanations for gaps.
- If they’ve been dormant for over 6 months.
- Or were on some form of leave, education, or other reasonable form.
In a case where the borrower provides documentation justifying the gap. Transitioning From Self-Employed – 1099 to W2 – Employees
When it comes to self-employment versus standard work methodology:
- All lenders want to identify gaps in employment and seek consistency in the type, or related areas, of work, such as income stemming from previous roles held.
- Lenders view the movement of self-employed individuals more favorably toward salaried positions within the same industry.
- You may need to sit in that new position for at least six months.
- There are stringent form requirements if moving from salaried employee to self-employed.
More Flexible for Skills – Changing Career Field
- Moving away from the preferred option poses some challenges.
- Most lenders prioritized employment in the same or closely related industries with flexibility for skill application outline to the used.
- You must usually be in a new position for at least 12 months.
- You might face stricter criteria for higher down payments or reserves.
- You will need to justify the career change reasonably.
Firefighter/Police Probationary Positions
For public safety probationary positions:
- Most lenders recognize these as substantively government-backed positions.
- Many lenders have established special guidelines for first responders.
- An expectation or offer letter confirming the position is usually required.
- Some lenders prefer waiting until the candidate completes basic academy training.
- These positions may come with more flexible conditions attached to government/FHA loans.
These, along with some other conditions, are why probationary periods differ from standard trial employment periods:
The field is fairly well-defined.
- There is generally good post-probation employment security.
- Most lenders understand that these qualify as “career track” positions.
- There is considerable employment sign-on retention due to post-probation employment.
https://mortgagelendersforbadcredit.com/gaps-in-employment/
mortgagelendersforbadcredit.com
What Are the Gaps in Employment Guidelines for a Mortgage
Gaps in employment guidelines on mortgages: Less than 6 months, you qualify. Longer than six months requires six months of seasoning.