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grandfathered in

 
 
kem105
 
Reply Fri 21 Oct, 2011 11:21 am
I bought a house and signed a contract with the owner to assume her loan that is supposed to be a non qualifing assumable loan I get paid cash at my job and have made every payment on time am I going to have a problem with the financing on this house
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Type: Question • Score: 0 • Views: 1,030 • Replies: 3
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PUNKEY
 
  1  
Reply Fri 21 Oct, 2011 05:12 pm
Most loan companies or banks require proof of income.

I suppose you could use your tax returns to prove income.

roger
 
  1  
Reply Fri 21 Oct, 2011 05:24 pm
@PUNKEY,
Unless 'paid in cash' means no income reported. This was an embarassing problem for claimants of benefits after the Gulf oil spill.
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felcanadaloan
 
  0  
Reply Mon 16 Feb, 2015 03:55 am
@kem105,
Bank statements and tax papers are solid proof of income i suppose.
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