Legal Question in Real Estate Law in Florida

Is it a Federal requirement that you must proivde bank statements to mortgage lenders when applying for a loan or a loan modification? Are pay stubs, tax returns, pension statements, etc. suffucient to meet the requirements of financial information?


Asked on 5/20/11, 8:34 pm

1 Answer from Attorneys

It's probably a bank and/or federal regulation on certain loans, not a law.

But look at this way, you are trying to borrow THEIR money. So the reasonable request of them to insure the safety of the loan is a necessity. Often these mortgages are sold, and who would buy them without proper backup showing the loan is secure.

Read more
Answered on 5/21/11, 5:17 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Florida