All Posts Tagged With: "form"
Mortgages: Do It Yourself Loan Modifications
I searched Google today looking for an answer. Is it possible, I wondered, to get a do-it-yourself loan modification, one that would instantly and automatically meet the government’s Home Affordable Modification Program (HAMP). I found 27,300 responses to my Google inquiry, but the one response I wanted was missing. Why is it that one can’t [...]
3Sep2009 | Peter G. Miller | 0 comments | Continued
What If I Don’t Sign The Mortgage Lender’s Form?
Question: When applying for a mortgage we were asked to sign a form which would allow the lender to check past tax returns. This doesn’t seem right. What happens if we don’t sign? Answer: Most probably you have been asked to sign IRS Form 4506. This form authorizes the IRS to provide tax returns for [...]
12Nov2008 | Peter G. Miller | 0 comments | Continued
Why Do Lenders Want IRS Form 4506?
Form 4506 can be used to order past tax returns from the IRS. In effect, the lender may elect to check and see if the application information provided by the borrower matches the forms sent to the IRS. In the usual case, loans are bought and sold in large quantities or “packages.” Some loans will [...]
1Sep2008 | Peter G. Miller | 0 comments | Continued
Why Do Lenders Want Tax Returns?
There are several reasons why lenders want to review tax returns for the past two or three years. First, they want to assure that the income you claim in your loan application is also the income you report to the IRS. Second, if you are self-employed lenders may be able to “add back” items which [...]
31Aug2008 | Peter G. Miller | 0 comments | Continued
Do I need A Home Inspection If I Have A Seller’s Disclosure Form?
Most states have a mandated seller disclosure form. This form provides an opportunity for the seller to answer standardized questions regarding the property’s condition. Just ask the broker or the owner for a copy. But, a seller disclosure form is not a substitute for an independent examination by a professional home inspector. A seller may [...]
29Aug2008 | Peter G. Miller | 0 comments | Continued
Can I Get A Real Estate Sale Agreement Online Or From A Hardware Store?
The opinion here is that standardized (national) buy/sell forms should not be used. Okay, the use of such forms is a bad idea. The reason is that sale agreement forms often require local content; without such content they may be void or voidable OR they might not reflect your interests. For instance, in one community [...]
28Aug2008 | Peter G. Miller | 0 comments | Continued
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