How can you be approved for a mortgage and then denied right before closing?
admin, May 4th, 2011 ksb143 asked:
We applied and were approved for a refinance on our mortgage. The day before closing the underwriter says that the expenses we claimed in our tax return last year(approx $20k) were to be deducted from the income and therefore the ratio was off. I’ve never heard of this. I assumed that this
would have been looked at before approving the loan. Does this make sense? So I faxed the broker the last paycheck stub for 2006 that showed the total expenses reimbursed for the year were $9300. Shouldn’t that be considered and offset the expenses paid out. Does anyone know what to do in this case?
Fap Turbo Review
We applied and were approved for a refinance on our mortgage. The day before closing the underwriter says that the expenses we claimed in our tax return last year(approx $20k) were to be deducted from the income and therefore the ratio was off. I’ve never heard of this. I assumed that this
would have been looked at before approving the loan. Does this make sense? So I faxed the broker the last paycheck stub for 2006 that showed the total expenses reimbursed for the year were $9300. Shouldn’t that be considered and offset the expenses paid out. Does anyone know what to do in this case?
Fap Turbo Review
Categories: Personal Finance
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