Danielle graduated college and is having difficulty getting full-time employment. She has taken two part-time jobs, 24 hours a week for one job and 20 hours for the other since getting out of school. One of her goals after graduating was to purchase a home instead of renting. Her parents are going to gift her the down payment, so she came to me to get preapproved for a mortgage.
Here is the problem, she doesn’t have a full-time job, rather two part-time jobs. Neither of the two employers she has, want to take on any additional full-time employees because they will soon be liable for health insurance. She told me that both employers are reducing their full-time employees in preparation of the health care laws that will be going into effect in 2014.
Almost all Lenders view Danielle as having part-time employment and won’t approve a loan for her, even though she has the two part-time jobs and is working over 40 hours per week and certainly makes a sufficient income to pay a mortgage. I will keep searching for a lender that will understand Danielle’s situation and be able to do a mortgage for her.
Danielle is just one of the many victims of Obamacare and there will be many more. I recently read an article about two companies that were sharing employees to avoid full time employment. In the months ahead, more of these situations will come to light. Obamacare is a disaster and the sooner it is repealed the better for America.
