Question Regarding Investment Properties

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GatorInSC

59 Posts

Posted - 05/13/2008 : 2:34:49 PM

Do they need to be listed on the Schedule of REO if the borrower owns them free and clear and the rental income is not needed to qualify?

EquitySmart

1117 Posts

Posted - 05/13/2008 : 10:01:52 PM

Yes. The borrower still has expenses associated with each rental property, which must be included in debt ratios - these expenses are itemized on Schedule E of tax returns.

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