All Forum Posts by: David Paul

 Facts. Completely agree.  I went ahead and just recommended that they get lawyers involved and go from there. If both can't come up with an agreement without one trying to hurt the other then the response is going to be a legal one. Thanks Don! 

Hey everyone, 

Two friends (probably former now) bought a house together. Let's call them Jacob and Michael. Yes. Real Situation, no not real names.

Things happen, friendship is over for whatever reason.

They were doing a house hack while renting out the other rooms to tenants.  The deed is in Jacob and Michael's name. 

Jacob moves away and wants noting to do with Michael or the house. Jacob is looking for a way to solve this where he doesn't take a major financial hit, but also where this doesn't end in (let's just be honest) tons of court fees and fighting.

Michael wants scorched earth and a 40% pay out which is a no go for Jacob.   Jacob calls me, and of course, I reach out to you geniuses.  Even though I don't think there's a way to get out of this without taking some sort of loss. 

I'll check to see if that's something he wants to do. @Adam Zach Thanks!

Thanks Jason!! 

I got a friend trying to buy a new property for him and his family. He's in sales and runs his own company. The house that he's wanting to buy is about 500k. FHA would work but the limit is too low for the house they want. A conventional loan will not work due to debt to income ratio. However, the bank is not including all of his income because he's only been self employed for two years. So, basically they are only counting his wife's income. If they included his income, there would no debt to income issues. He has spoken to multiple mortage lenders who basically finds this too complicated to figure out. So we decided to ask you guys, as I'm pretty sure someone has had this issue before and figured out other options to get the house. Location : Southern Kentucky

I got a friend trying to buy a new property for him and his family. He's in sales and runs his own company. The house that he's wanting to buy is about 500k. FHA would work but the limit is too low for the house they want. A conventional loan will not work due to debt to income ratio. However, the bank is not including all of his income because he's only been self employed for two years. So, basically they are only counting his wife's income. If they included his income, there would no debt to income issues. He has spoken to multiple mortage lenders who basically finds this too complicated to figure out. So we decided to ask you guys, as I'm pretty sure someone has had this issue before and figured out other options to get the house. Location : Southern Kentucky