Must I Tell Lenders About “Other” Income?
August 30th, 2008 By Peter G. Miller
Question: Must I tell lenders about income from child support, alimony, or separate maintenance?
Answer: If you receive child support, alimony, or separate maintenance you do not have to report such income. That said, you should because the more income you can show the more readily you can qualify for financing or a larger mortgage.
If you PAY alimony, child support, or separate maintenance then you must report such obligations to lenders because they are a debt.
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