by Michael
(Rochester, NY USA)
Regarding buying houses as an unemployed investor: I was recently laid off from my job. I was making a considerable income and getting ready for my first purchase on a duplex rental property to start my kick-off on my real estate portfolio.
Once I was laid off, my team of real estate and mortgage brokers told me without showing an income, though I have down payment money and a credit score that is in immaculate standing, all hope would be lost for obtaining a mortgage.
I know in the past there were plans that existed called "No Income Mortgages", where decisions were made contingent on other factors, but since last year's economic downfall, I have learned these may cease to exist.
My question is, is there some option that I have overlooked? Thank you for the help and advice.


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