[nfb-talk] question regarding mortgage loan

[Mike Freeman]

Yup; securing a mortgage *is* mind-boggling.

Mike


-----Original Message-----
From: nfb-talk [mailto:nfb-talk-bounces at nfbnet.org] On Behalf Of Sherry
Gomes
Sent: Wednesday, August 07, 2013 12:31 PM
To: 'NFB Talk Mailing List'
Subject: Re: [nfb-talk] question regarding mortgage loan

That does make sense, but they haven't asked for verification that I even
have a contract with a company. they accept that I am self-employed, got my
bank statements, but not even copies of my invoices. Weird. But at least
it's getting cleared up for me. I think. The whole process is mind-boggling.



-----Original Message-----
From: nfb-talk [mailto:nfb-talk-bounces at nfbnet.org] On Behalf Of Mike
Freeman
Sent: Wednesday, August 07, 2013 1:26 PM
To: 'NFB Talk Mailing List'
Subject: Re: [nfb-talk] question regarding mortgage loan

Sherry:

Au contraire: they *can* ask your employer to verify your current income
though probably not income for the next three years. What I suspect you're
running into is that they cannot conceive of a situation (being unfamiliar
with SSDI) wherein your income is guaranteed. You'd have much the same
problem were you in business for yourself.

Mike Freeman


-----Original Message-----
From: nfb-talk [mailto:nfb-talk-bounces at nfbnet.org] On Behalf Of Sherry
Gomes
Sent: Wednesday, August 07, 2013 11:44 AM
To: NFB talk list
Subject: [nfb-talk] question regarding mortgage loan

hi all,

I'm in the process of trying to buy my own very first owned home. I'm 55,
and I've rented all my adult life. The person who has been working with me
on getting my loan processed emailed me today to say that the loan
underwriter wants a document from a doctor verifying that I will still have
my disabilities for the next three years. I work--am self-employed--and I
get some SSDI. this requirement does not seem fair to me. after all, they
can't ask a person without a disability to get their employer to verify that
they will be employed for the next three years. and in my case, they aren't
even asking me to get the company for which I contract to verify I'll still
have my contract in three years. Are they allowed to ask for such
verification? When I keep questioning this, they tell me they can'[t refuse
the loan on the basis of my disabilities, but that they can ask for this
verification from my doctor. It doesn't seem right. 

Sherry



So hold this moment fast,
And live and love as hard as you know how, And make this moment last,
Because the best of times is now.
--La cage aux Folles




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