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Mortgage Professor about stated income loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stated Income Loans: Lie to Get a Better Rate?
June 20, 2005 Stated income loans are also called ?liars loans?, because in some cases, the rules virtually invite the borrower to lie. The case below is a great illustration. ?My husband makes $7,000 a month but has a credit score of 503. I make $1250 and have a score ... more... What Are Mortgage Documentation Requirements? 5 October 2005 What Does Mortgage Documentation Consist Of? A lender?s "documentation requirements" stipulate a) the information about income, assets and employment that must be provided; b) whether and how this information will be used by the lender; and c) ... more... |
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stated income loans related definitions |
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Equal Credit Oportunity Act
Equal Credit Oportunity Act (ECOA) Is a federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status or receipt of income from public assistance programs. ... more... Section 8 Housing Section 8 Housing The Section 8 program began during the Great Depression to increase the housing choices available to very low-income households by making privately-owned rental housing affordable to them. It provides rent subsidies, either rental certificates or vouchers, on ... more... |
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More about stated income loans Do Your Homework - Find the Mortgage That Fits Your Lifestyle and Your Budget What Is A FHA Loan? Personal Loans for Unemployed: if Unemployment is a Financial Struggle Unsecured Loans Substituting Secured Loans Bad Credit Florida Mortgage Loans Self Employed Loans in UK Cheap Loans Dirt Will Seem Costlier! Homeowner Loans Drawing Lessons of the Past Why Starve Your Needs When Payday Loans are there to Gratify Them A Critical Guide to Home Loans: Your Options and How They Affect Your Future
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