Secondary Income problem

if you don't claim on tax returns as income then you can't use it...BUT work with a local mortgage broker to see you you show your in law making payments via 24-36 mths of cancelled checks, i think you could find a lender to take that debt off of you DTI, to bad you didn't live in Florida as I could do it here

if your mother has been making the payments and you can prove it with 24 months canceled checks, then you might get a lender to consider removing the payment from your ratios.. Consider working with a local mortgage broker.. They can massage the Fannie Mae LP automated approval system, and can show you exactly what you need to do to get it approved... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Showing Proof of your mother paying the mortgage for more than 24 months can allow you to remove it from consideration in your debt ratio. I would reccomend contacting your local lender for more information.

Actually a level III is not a decline for Fannie. I have investors that will do a level III under HARP all day long. It sounds like your lender is being too picky. Also, Fannie will allow us to omit from your ratios any debt where you can show the payments are being paid by another for a period of 24 months or longer. Work with a local Mortgage Banker/Broker, rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination and has access to loan products of many lenders, not just those of one bank, and can properly guide you. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

For the rental, you will need at least 2 years of rental proof. Also, you have to claim the rental on your tax return.Give me a call or email me, we can discuss more options for you. 714-943-6499, robert.le@greenvillemortgage.net

Is your mother on title as well? I just actually did a conventional refinance for a father who took a loan out for his son's property. I was able to get the loan approved based on 24 months cancelled checks, son was on title, sons tax returns, and a few other items needed for approval. Give me a call or email to see if I can get this done for you. I'm in Torrance. 562.221.1263 chandlerloans@gmail.com Mike Chandler

I just got a mortgage payment/insurance/property tax removed from borrower's debt to incomeratio by showing the mother of one spouse was making the payments from her account.So, yes we do it! Our rate and pricing are quite good...we are a CA. lender...you may goto my website and submit your information at www.larrygraymortgage.com

Level III is not a level for a decline, it's a level of approval. You were working with a lender that has overlays and didn't tell you the full story. I can do a level III APPROVAL for you. I am in California and licensed in California and an expert at HARP. Click my profile for contact info.