The Bank Decides When You're Most Stressed

After we sold our first business, Brandon and I finally had the money to put 20% down on our first home. What we didn’t have was permission.

Our new business (the current one) was in a totally different industry ... and to a bank, that made our income brand new. It didn’t matter what was in the account. We needed two years of tax returns from the new business before anyone would lend to us.

So we waited. We filed the second return the minute we could, in early February 2020. We closed and moved in on Friday, March 13th ... the same week the world shut down.

We made it by the skin of our teeth. What stuck with me wasn’t the timing, though. We were ready long before the bank said we were. The bank decided when.

Those same rules decide whether you can borrow against a house you already own.

This week's question: If you needed $50,000 next month, whose permission would you need to get it?View more at https://livecounterflow.substack.com/