spousal support: How Support via Direct Deposit Damages Your Mortgage Application After Divorce
- 01/12/09 11:08 PM
Not all forms of alimony and child support count as YOUR income for mortgage purposes Accepting your support by direct deposit is a huge mistake. Same thing with cash. Banks require proof of income. When you receive support by direct deposit or in cash, there is no paper trail or proof of income. You Need a Paper Trail - Track Record of On-time Payment in Full: Without a paper trail, the mortgage lender cannot count your support as income. And you may not qualify for a mortgage without it. For the best paper trail, have your support payments sent directly … (2 comments)
Not all forms of alimony and child support count as YOUR income for mortgage purposes;)
;)
