Quitting Your Job Using Rental Properties - Day 4

2/11/16 Thursday
     I hadn't heard back from Hank yet regarding my pre-approval, so I called his cell and office right before lunch.  He didn't answer, so I left messages.  Around 1pm, he called me back.  I told him that I was just wanting to follow up and see what the status was.  He said he was actually reviewing my stuff at that moment, and he would let me know something by the end of the day. 
     He called me back at 4:30pm.  He said he ran my information through an automatic approval system, and I did not qualify.  He said the reasons were likely due to:

1. Derogatory Items on my credit.
2. Length of employment at my current job (7 months)
3. High debt/income ratio with a second mortgage (48% - normal max is 42%)

     He said he is still going to try to get me approved, we just may have to get creative.  I'm not sure what he meant by that.  His underwriter is off tomorrow and Monday is a holiday (President's day), so he said he will talk to her on Tuesday and let me know what she says.

Please check out my website for my other side business/hobby. www.yrlenterprises.com and at facebook.com/yrlenterprises