I have a client who is on a small retainer ($30,000) plus commission. Has been in job for 15 months but has not received any commission as yet because the retainer has to be covered first. The retainer will not allow for a $150k refinance from lo-doc to full doc but his employer is willing to do a letter to say that his income should be $50k for the 09/10 financial year.
Any ideas as to who would accept the letter as proof of income?
Any ideas as to who would accept the letter as proof of income?