Need some help understanding

[goingcrzy]

Background: Chap 7 discharged last year
Thinking of walking away from home. Home loan and title in my name only
owner of (solo) small business

Question:
Since we are thinking of walking away we are trying to figure out the quickest way back into a home.

My thinking is to apply after two years from the BK in my wifes name

So the million dollar question is how to pay my wife as an employee or part owner so she will show income for the loan?

Thanks for any thoughts on this!

[Ugh07]

There are a couple problems I can think of and perhaps a few that I have not.

-Who will verify her employment verbally? The Underwriter may look up the company and find out you are the owner which would trigger using full tax returns for income verification, is that ok? Of course they may just turn it down at that point since some underwriters would look at that as a "lie of omission"

-They are going to want to know where you and your wife are living now and what is the disposition of that property. If they find out you are walking they may not want to do the file at all.

Overall, I think number 2 is the bigger problem.