Reevaluating Lending Practices: The Flaws of Relying Solely on Gross Income and Understanding the Risks of W2 vs. Non-W2 Employment
The current practice of lending based solely on gross income without considering a borrower’s expenses can be flawed for several reasons, particularly in today’s economy: Cost of Living Disparities: Gross income does not account for variations in the cost of living across different regions or individual circumstances. A borrower with a high gross income in […]