2 year employment – questions

Home Forums Purchase Program 2 year employment – questions

Tagged: 

Viewing 8 posts - 1 through 8 (of 8 total)
  • Author
    Posts
  • #65883
    bshep
    Participant

    My partner and I had our first appointment with our counselor in January. The counselor mentioned 2 employment history situations.

    Situation 1: partners employment history. She says he won’t qualify as 2 years of continuous employment until July. I’m not sure I understand why and I want to bring the right documents to the next appointment.

    In 2018, partner and I moved from TN to NC. This is his employment timeline.

    July 20, 2018 – continuously employed with W2s in NC
    July 7, 2018 – move from TN to NC
    June 30, 2018 – last day of employment in TN (part time 1099 employee)
    June 6, 2016 – first day employment in TN (1099 employee)
    June 1, 2016 – move from NC to TN
    May 31, 2016 – last day of employment in NC (fulltime W2)
    May 1, 2013 – first day fulltime employment in NC

    Am I missing something here? What documentation do I need to bring to show 2 years of continuous employment?

    Situation 2: my employment history. I graduated with a masters degree in May 2018. My last day of graduate assistantship was May 31, 2018. I didn’t begin my job until September 2018. Counselor said that is most likely okay because I was trying to get a job in my field. She said to bring a college transcript.
    1. Is it likely that the fact I was trying to get gainfully employed will serve as an exception to the rule?
    2. Will a copy of my diploma serve just as well as a transcript?

    Lots of questions and thank you!

    #65885
    Nelsont
    Member

    If I am reading this correctly they have no employment gaps over the last almost 7 years. But they only have 20 months of full time w2 employment since they switched from 1099 part time. They need 24 months of full time employment whether it be w2 or 1099 you seem to indicate 2 years ago was only a part time job. That’s what your MC is looking at.

    1. yes
    2. no. you need to solicit the registrars office and obtain a copy of your transcript. Just like the tax transcript in addition to the W2 this is coming straight from the source, proof that you actually registered for and paid for classes and may even have grades listed (not sure about that). This is much more difficult to fake. Nobody here is saying you are faking it but diploma fraud does exist and is relatively easily to do compared to the transcript. Same for taxes.

    #65886
    bshep
    Participant

    Thank you very much!

    Is there a reason it needs to be 24 months of full-time? He made the equivalent of full-time pay through part time work.

    #65890
    Nelsont
    Member

    Not sure.

    #65898
    Alikay
    Member

    I believe the 2 years is about job/income stability. You should definitely have a conversation with your MC. I didn’t qualify initially although finances were fine. I had to wait a few months to have that 24 months of FT.

    #65899
    TTrumble
    Member

    Hello bshep,

    Alikay nailed it on the head regarding your partner. It’s about job stability. Part time is part time no matter how much you make at the job. Two years of full-time employment with no gaps of 30 days or more are required and that won’t happen until July for your partner.

    Your counselor will send a Verification of Employment form to your partner’s employer to get verification of the two years. If you also still happen to have a formal job offer letter or similar document, that may suffice as well.

    I’m afraid your point at which you will be able to qualify is September. While we do make an exception to the two-year rule if you are in school or otherwise working to better your employment opportunities, the time frame between getting the degree and starting the job was more than 30 days and it is going to affect you the same way as someone who was between jobs for more than 30 days.

    In short, while you have a little bit of a wait before you can be qualified, you definitely should continue to work with your counselor so you can be fully prepared and ready to be qualified as soon as you meet the eligibility requirements.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #65900
    shelties4me
    Participant

    My husband worked for FedEx from 2015 to 2019 when he lost his job he was on unemployment looking for a job until November when he got another full time job and has been there since. Will we be able to qualify?

    #65902
    Nelsont
    Member

    Yes. In November 2021.

Viewing 8 posts - 1 through 8 (of 8 total)
  • You must be logged in to reply to this topic.
Follow us on Facebook RSS Feed Follow us on Twitter