Question about refinancing...

he has no incentive to report you but she may not be able to do the re-fi. You used to have to give all this info years ago, then everything got loose. It’s now tightening back up.

I am pretty sure she won’t be able to, and I want to tell her the truth, but not put her in an awkward position or compromise my own position—I just don’t know what their ethical rules are

She doesn’t have to tell the IRS anything.

Is there such a thing as a “stated income” loan anymore? I’m guessing with the current mortgage crisis there isn’t. With that type of loan you don’t have to provide any income documentation, but even when the money was flowing like water they were tougher to get.

we just refinanced and they only wanted paycheck stub, proof of homeowner’s insurance, and copy of our property tax statement, they didn’t ask us for any tax returns…we refinanced with our local credit union.

Interesting….