Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago, 06/05/2020
Pay reduction due to COVID and my first duplex under contract-UGH
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?