Legal Question in Real Estate Law in Pennsylvania

Mortgage: Request for Information

I was employed by a company for eight years; laid off; started doing contract work for 18 months for the company and then rehired by the company. I have given the mortgage company: a copy of my driver license; a copy of the check for closing ($48K); a copy of the deposit slip for the check that is going to be used for closing; copies of my bank statements; copies of my assets totaling $128K; copy of my 1099 for 2005; letter from the consulting company documenting how much I was paid and the offer letter from the company that re-hired me. They are now asking for income tax file for 2005. Should I go to another lendor for a stated income mortgage?


Asked on 1/27/07, 4:33 pm

1 Answer from Attorneys
Miriam Jacobson Retired from practice of law

Re: Mortgage: Request for Information

No - any lender may require confirming your tax return. Also, by applying to more than one lender for the same loan, each one will report to credit agencies that you applied. This could result in lowering your credit score and affect your credit for loans, leases, employment, etc.

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Answered on 1/29/07, 12:41 pm


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