Re: FWD: Advice on contract vs. captive

Subject: Re: FWD: Advice on contract vs. captive
From: "Eric J. Ray" <ejray -at- RAYCOMM -dot- COM>
Date: Sat, 5 Sep 1998 05:46:56 -0600

>One nasty aspect of being a non-W2 contractor is that if you try to
>refinance a mortgage or try to get a home remodeling loan, no mortgage
>company or bank will have anything to do with you. You may be able to
>convince them that you have a dependable income, but you have to do lots of
>talking, etc.

Well, that's only mostly accurate--it's possible, but you have to
do a lot of legwork and put a lot of time into researching different
mortgage companies. Some won't give you the time of day,
but some are more than happy to work with you. Two years consistent
self-employment (without W2 jobs in the middle) seems to be
the magic number to make it easier.

(We purchased a house last December, after about 20 months of
self-employment, and it was certainly doable.)

Eric (and Deb)

* Eric J. Ray, ejray -at- raycomm -dot- com,
* TECHWR-L Listowner, co-author _Mastering HTML 4.0_
* _HTML 4 for Dummies Quick Reference_, and others.
* See our overhauled Web site at

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