Business debt that is paid by a client’s business, but is personally guaranteed, does not need to be counted if the business can prove 12 months of payment, paid on time, and prove that the company can sustain the debt.
| Posted on |
Answer: [tweet-start]Business debt personally guaranteed by the owner can be tricky. There are ways that it does not need to be counted, so call me![tweet-end] The information below is the text specifically from the Fannie Mae selling guide for this topic. I would just advise my underwriting team to make sure they considered the payment […]