All Forum Posts by: Ron Turner

Hello Community,

My situation is that I just submitted a mortgage application to start the house buying process, and was notified that after running my credit check ( I wasn't worried as my credit score is 780) that they discovered I have a Judgement that was filed 7 years ago (it was previously a collections item that I thought was a charge off, but was wrong). The lender told me that I would need to pay this judgement before I could be approved for a mortgage.

Can someone verify that this is indeed the case? If so, what steps should I take to do this? Contact the court? The creditor? Any legal advice (or non-legal ideas that I can pursue) would be appreciated!

@Paul Defngin Thanks for the reply! And yes, you would think this would be the case, but foreign income either spooks some lenders, or perhaps they just don't know how to go about reporting it...As I lived abroad ALL of 2016, my income was not subject to US Tax at all (I'm within the cap guidelines and domicile requirements), but as I will be in the States from September on, I will owe regular US Tax on what I earned abroad (which stinks because I am already taxed here as well). Fortunately I will be on the same income in the US, it's a China company so consistent info. Yes, I'm sure they will want a paystub after I'm back, I've told them this is not a problem!

I've had 2 lenders say they think they can approve the loan now, so will apply soon! Thanks again!

Thanks for the great answer, @Joel Owens!

Hi @Ralph C., thanks for the response. I don't have a background in real estate, and yes, everything I've read and people I talk to say the same thing, prospecting is king. I've always been interested in Real Estate, have been in a career the last 30 years of coaching and consulting Olympic level athletes and Coaches, and am ready for something new. I'm halfway done with my online pre-licensing course and will take the agent exam in October...

Hello everyone,

I'm considering pursuing a career as a real estate agent, and would like to have existing agents chime in if you could! I've read many books and watched countless videos on the experiences and challenges of the industry, but always seem to find the same Google answer when trying to get a general idea of what to expect salary-wise the first, second, or third year as an agent. According to salary.com, agents earn an average salary of $36,000 (USD) per year. But this includes all info from all levels of experiences, and includes both full-time and part-time agents (making the info very vague!).

I was hoping some people could leave some feedback on what to expect income-wise my first, second, and third years as an agent. Let's assume I am working 40 hours a week, and I'm in a pretty big market (Atlanta). I'm NOT asking people for exactly what they earn each year, just some ranges perhaps on what to expect!

Thanks in advance!

@Upen Patel, thanks for the reply. I have been filing taxes yearly, and it's the same job I've been doing abroad, just now able to do it from the US. The issue seems to be the income being made abroad (even though it's properly reported on my tax returns)...

Hello everyone! I'm having a challenge, hoping to get some advice on taking action for my situation...I currently live and work abroad in China, and am being transferred back to the US in the Fall to continue my job there (have been in the same career for 30 years, although with different companies). I am wanting to buy a home when I get back, and have contacted a few lenders on getting a mortgage. However, I am getting a few turndowns as I am being told told that because I don't have W2's (China doesn't use these) and I haven't been in this position for 2 years, I'm not able to get a loan. I DO have a healthy salary, excellent credit, a good down payment, and have provided my bank/tax returns for the past few years. Anyone have any advice on where to turn at this point? Are there lenders that deal with expats earning income abroad? Any advice would be appreciated!

Hello everyone! I'm having a challenge, hoping to get some advice on taking action for my situation...I currently live and work abroad in China, and am being transferred back to the US in the Fall to continue my job there (have been in the same career for 30 years, although with different companies). I am wanting to buy a home when I get back, and have contacted a few lenders on getting a mortgage. However, I am getting a few turndowns as I am being told told that because I don't have W2's (China doesn't use these) and I haven't been in this position for 2 years, I'm not able to get a loan. I DO have a healthy salary, excellent credit, a good down payment, and have provided my bank/tax returns for the past few years. Anyone have any advice on where to turn at this point? Are there lenders that deal with expats earning income abroad? Any advice would be appreciated!

Hello all! I am an American currently living and working abroad in China. I will be moving back to the US in September 2017 where I'll be able to continue this job from there. I am wanting to buy a house when I return, and have reached out to a few mortgage lenders to inquire about the preapproval process. I am finding a few lenders are passing as they either don't know how to process an application for income abroad, or because my employer is a Chinese company, don't issue W2'a or 1099's and don't issue traditional paystubs (I just receive cash in dollars, which I deposit to my US bank). 

Anyone have any suggestions for someone experiencing situations like mine? Or any other ideas? Any insight would be appreciated!