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Updated over 4 years ago on . Most recent reply

User Stats

17
Posts
3
Votes
Scott Raynor
  • Rental Property Investor
  • Central New York
3
Votes |
17
Posts

Pay reduction due to COVID and my first duplex under contract-UGH

Scott Raynor
  • Rental Property Investor
  • Central New York
Posted

After years of dreaming I've finally got up the nerve to pull the trigger in the real estate investment game.  I've my first duplex under contract and I'm psyched!

Unfortunately, I was just notified by my employer I'm taking a temporary (5 month) 20% pay reduction because of the impact COVID has has on my industry. I've already got the financing in place with a FHA loan. Do I notify my lender or just roll with it and hope they don't ask to verify my salary just before closing?

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