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hcr9177
69 Posts |
 Posted - 09/04/2008 : 09:13:08 AM
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I have a purchase deal with a 788 credit score, purchase at 75% LTV, primary residence, stated income/verified assets. Here is the snag...the borrower owns an investment property, that he did not claim rental income on. SO, I can't get a CPA letter that states the borrower has been claiming rental income for the last 2 years...I need a program that just allows you to state the rental income, and do a verbal VOE for the actual W-2 income....
PLEASE HELP!!! |
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Tony4Loans
112 Posts |
Posted - 09/04/2008 : 3:17:05 PM
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Email me. I'll close this in one week.
quote:
Originally posted by hcr9177
I have a purchase deal with a 788 credit score, purchase at 75% LTV, primary residence, stated income/verified assets. Here is the snag...the borrower owns an investment property, that he did not claim rental income on. SO, I can't get a CPA letter that states the borrower has been claiming rental income for the last 2 years...I need a program that just allows you to state the rental income, and do a verbal VOE for the actual W-2 income....
PLEASE HELP!!!
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nikkiyj
1703 Posts |
Posted - 09/04/2008 : 3:21:19 PM
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quote:
Originally posted by hcr9177
I have a purchase deal with a 788 credit score, purchase at 75% LTV, primary residence, stated income/verified assets. Here is the snag...the borrower owns an investment property, that he did not claim rental income on. SO, I can't get a CPA letter that states the borrower has been claiming rental income for the last 2 years...I need a program that just allows you to state the rental income, and do a verbal VOE for the actual W-2 income....
PLEASE HELP!!!
I thought if you did stated income you had to state the income for the property? Does your current income not cover both PITI's of the property? Doesn't that just aleviate the issue or cause you more problems? |
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hcr9177
69 Posts |
Posted - 09/04/2008 : 8:31:05 PM
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Thanks Tony, I emailed you.....
quote:
Originally posted by Tony4Loans
Email me. I'll close this in one week.
quote:
Originally posted by hcr9177
I have a purchase deal with a 788 credit score, purchase at 75% LTV, primary residence, stated income/verified assets. Here is the snag...the borrower owns an investment property, that he did not claim rental income on. SO, I can't get a CPA letter that states the borrower has been claiming rental income for the last 2 years...I need a program that just allows you to state the rental income, and do a verbal VOE for the actual W-2 income....
PLEASE HELP!!!
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hherrm
1407 Posts |
Posted - 09/04/2008 : 8:35:16 PM
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| I don't think that you can do stated rental income..look up the member *chriscall*, he just did one for me, he will help you. |
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hcr9177
69 Posts |
Posted - 09/04/2008 : 8:47:34 PM
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Thank you! I will look him up!
quote:
Originally posted by hherrm
I don't think that you can do stated rental income..look up the member *chriscall*, he just did one for me, he will help you.
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clearwaterny
347 Posts |
Posted - 09/04/2008 : 10:27:28 PM
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How does BofA still do a stated loan? Unless you're trying to get an income waiver or BofA retail has a fast and easy programquote:
Originally posted by Tony4Loans
Email me. I'll close this in one week.
quote:
Originally posted by hcr9177
I have a purchase deal with a 788 credit score, purchase at 75% LTV, primary residence, stated income/verified assets. Here is the snag...the borrower owns an investment property, that he did not claim rental income on. SO, I can't get a CPA letter that states the borrower has been claiming rental income for the last 2 years...I need a program that just allows you to state the rental income, and do a verbal VOE for the actual W-2 income....
PLEASE HELP!!!
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chriscall
183 Posts |
Posted - 09/05/2008 : 04:13:36 AM
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| Contact me so we can discuss this situation because with the information you've offered I believe I can help. |
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hcr9177
69 Posts |
Posted - 09/05/2008 : 11:23:00 AM
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Hi Tony me again, can you please call me? I have to speak with you and figure out if you can do this?????
512-921-6078 Helen
quote:
Originally posted by Tony4Loans
Email me. I'll close this in one week.
quote:
Originally posted by hcr9177
I have a purchase deal with a 788 credit score, purchase at 75% LTV, primary residence, stated income/verified assets. Here is the snag...the borrower owns an investment property, that he did not claim rental income on. SO, I can't get a CPA letter that states the borrower has been claiming rental income for the last 2 years...I need a program that just allows you to state the rental income, and do a verbal VOE for the actual W-2 income....
PLEASE HELP!!!
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