If you earn most of your income on 1099s, brace yourself for extra preparation, paperwork and discussion of your financial picture when applying for a mortgage.
The National Association of Realtors says about 16 percent of its member Realtors reported home purchase cancellations in June, mostly because of tighter lending requirements. To prevent that, clean up any credit blemishes before beginning the hunt.
http://www.nytimes.com/2011/08/28/realestate/loans-for-freelancers-mortgages....
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