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We're moving mom out of Senior Housing next month, and the apartment we're moving her into naturally requires Proof of Income. Now, if we were traditionally employed, they would only need a couple of paystubs with ZERO visibility into our actual account balance(s).
But bc we're self-employed we had to submit bank statements that show income of 3x the rent, for 3 months. So, deposits equivalent of 9x rent over 90 days. Fine 
. We submitted ones that reflected 14x, but were flagged bc the cash didn't come in EVENLY based on a calendar month.
. We submitted ones that reflected 14x, but were flagged bc the cash didn't come in EVENLY based on a calendar month.
Mind you, it doesn't matter that the existing balance adds several more multiples, or that our credit score indicates an Excellent history of on-time payments, or that this is just one of our accounts. The only thing that matters is an arbitrary "rule" about the cadence of income
Apparently, "recurring" only has one rhythm. In other words, a $3500 check that comes in twice a month is more palatable than, say, a $35,000 check that comes in quarterly {these numbers are hypothetical and illustrative}.
We're vets of the service industry so we know this isn't a new issue, but we cannot begin to tell you how infuriating it is to deal with housing institutions that are still using these old azz systems and practices on top of *wild gesture* EVERYTHING ELSE going on
This is actually the second time we've dealt with this in the last few months. The first time was when we attempted to re-finance our mortgage. I'm just venting now but seriously can't wait to discuss this more with other self-employed people. Something has GOT to change.
