This property is owned by a non-profit organization. The agent for the seller seems to think he is not wrong. I have a loan already in place
2007-01-04 14:17:11 · 6 answers · asked by firecracker9201 1 in Business & Finance ➔ Renting & Real Estate
Some non-profit sellers have maximum income limits - they will only sell to owner-occupants who make below a certain amount of money. They are not trying to make you borrow money from them or anything, they just want to know that they are providing an opportunity to someone who actually needs it. This is not unusual, at least not in Virginia where I am.
(I am not a lawyer and not offering this as legal advice.)
2007-01-04 14:28:41 · answer #1 · answered by CiCi Elder 2 · 3⤊ 0⤋
The question was asked many times daily on Yahoo answers "if you could file with your last pay stub" and everyone answered correctly! Now you go and file with the last pay stub, and of course different amounts, just like told on Yahoo answers. Well it is your responsibility to file your taxes with you w2 and only w2 not pay stubs, of course the tax pre place filed with your pay stub, they didn't care about you, only want the money they were going to charge you, possibly an arm and a leg. Regardless of receiving more money or not as a refund is not the issue, the issue is you filed a fraudulent tax return by not reporting all your income. Now to correct your mistake is wait until IRS processes your original tax return and refunds you. Once the refund is received by you, then you can go and amend the tax return by filing Form 1040X. again it may not get you more money, but at least you aren't under reporting your income, better yet wait a while to make sure you have all your Form 1099INT from your banks etc. Processing of tax returns for e-filing is a standard two weeks, if error are found then it will take longer for you to receive the refund Good luck!
2016-05-23 04:34:43 · answer #2 · answered by Christine 4 · 0⤊ 0⤋
Generally, only a lender needs your financial information. Anyone can ASK for your tax returns. (Can I see them too?).
I suspect the seller wants to see if you are a QUALIFIED buyer, not just a tire kicker. I'd recommend having your lender or mortgage broker give you a letter showing that you are PRE-QUALIFIED, meaning that you meet the general terms and conditions to get a loan up to $XXX,000 assuming the property appraises at least at the value of the sale. That way, you don't need to give the seller your financial info.
A seller can also use your financials against you to determine how willing (or not) you are willing to pay full asking price!
2007-01-04 14:29:13 · answer #3 · answered by WealthBuilder 4 · 1⤊ 0⤋
He can ask however you do not have to supply him with them. Especially since you already have a loan in place (provided that the non-profit org. is not the party providing your loan). Those are things that a lender would need to see, not a seller's agent.
Good luck to you!
2007-01-04 14:32:48 · answer #4 · answered by Mary R 5 · 0⤊ 0⤋
I like "the wealth builders " answer and don't think anymore needs to be said..
a letter from your broker "of qualification"
shows your actually looking and prequalified..
no one else needs your information...just your mortgage broker..
they will give you a letter..
2007-01-04 14:56:09 · answer #5 · answered by m2 5 · 0⤊ 0⤋
High five for CiCi... first day here and a best answer already! Way to go!
2007-01-04 15:44:19 · answer #6 · answered by teran_realtor 7 · 0⤊ 0⤋