income verification: Must be nice not to have to file taxes....or is it?
- 07/27/11 07:03 AM
He doesn't file taxes, can he still get a loan? Have you ever worked with a client who wasn't required to file tax returns? Our office was recently working with a gentleman who, because of his age and earnings, wasn't required to file a tax return. In recent years, lenders have been REQUIRED to pull what's called a 4506-T, or verification of Tax Transcript. It's been required from really an auditing standpoint to make sure that the tax returns the borrower provides the lender for qualifying purposes are INDEED the same returns they provided the IRS. In a nutshell, it's all to … (12 comments)
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Karen Burket
Valley Mortgage Grou, Conventional, FHA, VA, mortgages
You can find great local Medford, OR real estate information on Localism.com Karen Burket-Bank of Oregon Home Loans Conventional, FHA, VA, mortgages is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.
He doesn't file taxes, can he still get a loan?
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