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
Most loan companies or banks require proof of income.
I suppose you could use your tax returns to prove income.
Unless 'paid in cash' means no income reported. This was an embarassing problem for claimants of benefits after the Gulf oil spill.
Bank statements and tax papers are solid proof of income i suppose.