Umm tbh, shouldnt the IRS tax returns the banks require kind of answer that question that you havent been sitting on your ass doing nothing and that its been a consistent amount?
Its always something MORE when you are dealing with self employed business owners.
you guys obviously have no working knowledge of the business and don't understand how rampant fraud is and how intricate some of the schemes are, trust me banks are in the business of making money and anything that was wasting their time without purpose would be costing them money
and if it's anything like my company they probably have several different routes you can go for proving certain things or satisfying certain stipulations, the tax returns are a valid source but you have to get the person to sign a 4506t and send it off tot he IRS which can take days and they are probably asking for the other things which are easily attainable to speed up the process and get the deal done but you don't know about any of that because you're talking out of your ass
so dont require the tax returns then if its so time consuming.
its beyond annoying when you are asked daily for more do entation. ask for it all at once and be done with it, i dont have time to have to provide all this ing every got damn day.
In my case, its not like I was asking for the process to be done in a two-three day time frame. I was looking at a ing 30 day time frame. Its like it like matters if it the do entation that you need arrives in 3 hours or 3 days if you request it when I sign said do entation, that said mortgage banker should ing provide when asking for all required do entation.
Go through USAA. They have the best deals for militaryHow much is a "decent" downpayment? About 1/10th of the home? I'm finally getting to the point in my career where I actually have to start thinking about this stuff... growing up sucks.
This isn't my first rodeo you arrogant little prick
I know how they work and understand risk. and yes, they had two years tax returns provided by the IRS and two years w-2's showing steady income. They had a letter that I had been employed in the same place for 25 years. They also had all the information on the $500,000 home I live in and the $1,000,000+ commercial property I own free and clear. They had copies of the insurance policy on the home I live in and the home I am purchasing and the commercial property. They had bank statements showing $100,000+ sitting in the bank. I'm borrowing about $145,000 on a house that just appraised for $20K more than that. I am purchasing mortgage insurance since I'm putting less than 20% down. How more ing secure do they need to be? Do they REALLY need to see cancelled checks/backup (they already had a copy of the deposit slip showing two checks in exact amount of all the other paycheck stubs I had already submitted less $400 cash) of a deposit I made in the first week of November?
A lot of that might be federal regulation resulting from subprime, they may not have a choice
I think there's a squeeze on money available to lend, and they are saving that for the larger businesses. You certainly don't see the loan commercials you used to see. Interest rates are low, banks aren't pushing loans that hard. Could they just want you to get upset and go elsewhere or put more money down so they finance less? Credit score these days doesn't mean much.
It's all a scam. Funny they don't trust you while they are the ones who caused all this in the first place. I cannot even spend hundreds of thousands of reward points from Southwest because I refuse to get a Southwest Airlines credit card.
Fight Club is looking like a prophecy.
also, if you gave them the copy of the tax returns they wouldn't be able to use them, people create fakes so well that you couldn't tell unless you went through the IRS that's why they have to get them from the IRS themselves. so if you just provided tax returns and thought that would be sufficient, they are probably asking for the other stuff so that they don't have to hassle with the IRS. lenders always have these strict policies they have to abide by and there are usually several different avenues to prove certain things, they shoulda just sent off the 4506t if it was gonna be this difficult for you to produce checks tbh i don't see why the tax returns wouldn't be sufficient to prove income imho.
Reading comprehension issues? I signed the release and they got them straight from the IRS.
The problem I have is requesting tax returns FROM the IRS.
THEN asking for check stubs.
THEN asking for letters asking about how a business is structured, though the certified copy from the State of Texas states exactly what the letter stated, if anything the c/c copies of the articles of organization are worth more than a ing letter i regurgitated out in 5 minutes..
THEN asking for this
THEN asking for that
THEN asking for this
because in most of the cases, they were too ing obtuse to figure something out that is rather simple.
My favorite was having to ing draw arrows and pictures because the simple task of adding two figures together was too much work.
ah it wasn't clear that they did get them from the irs, so why didn't you just tell me you did sign the 4506t in the first place? not really sure why they were asking for all that then, maybe dmc is right they just wanted you to put down more money or go elsewehre rofl
crofl average joe thinking he's smarter than the bankers who control his life and pretty much rule society. tbh they aren't obtuse, there's a reason somewhere even if u don't know what it is, could be they didnt want to loan you the money, could be they have a ton of re ed red tape they have to jump through, idk only did mortgage for a brief stint i'm by no means an expert in det sort of lending.
there are many ways to solve the NFD...
either allow the drug cartels to launder its money into ur banks to keep the financial system afloat or...
down with the cons ution, write up a new one....get rid of the current currency, introduce a new currency and exchange monies program where no matter how much u had you get the same amount as the next wanker in line (commie policy everyone starts back at 0) lmao make metals and worth nothing...new world order my friends...
no because I guess its too ing difficult to see a deposit for sum a and then see two check stubs that equal sum a and figure that hey, thats probably the deposit.
although i have to ing draw charts and graphs to explain basic math. impressive.
what reason could there be that they cannot figure out that two check stubs that equal an amount are probably for that amount. Does basic logic skills not apply?
And what do you want to ing verify, like CC, I signed the ing 4506t. I'm going to guess the income I'm reporting is probably true, when it adds up to the dollar the amount reported and that I stated.
Moronic red tape that has to be followed because these same ers decided to follow no ing rules so now its largely the consumer that gets ed around, per usual.
I'm hoping and optimistic that my next exercise is smoother because the guy I am working with seems to know his and doesnt work for one of those huge corporate mother ers that ed everyone over to start with.
The thing that just annoys me is if you want me to provide things, thats fine, just tell me in the beginning so I can get it all to you at once instead of having to get pieces here and pieces there.
I was upfront, so the least I should expect is for the other end to be just as upfront about what I'm going to need. Its not like I didnt tell them I was a self employed person in the beginning, they should ing know what is to be expected.
yeah they should def just ask for the up front
That's really the thing that annoyed me more than anything else, I knew going in I would have to provide more than a regular ole W2 employee; its the price I pay for the freedom to set my own schedule, work when I want, take off when I want et al. So its not like I really was asking for anything special, just honest up front treatment that makes my life as hassle free as possible.
tbh, if they hadnt already pulled my credit, I prolly woulda told the place I was working on my refi with to go themselves because of their overall lack of organization or perception thereof.
what do u mean "if they hadn't already pulled your credit?"
they had already done a hard inquiry on my credit report essentially, they were quick to pull that after i authorized it mind you
why would that deter you from going elsewhere? the thing about pulling your credit too many times hurting your credit score is a myth..
It did pull my score down 10 points becuase i have too many this year, tbh. That's the only reason I can think of that it went down 10 points, other than to just annoy me.
And I was already too far down the road and didnt want to start over again.
it shouldn't affect your score very much unless you pull it a lot..how many times have you pulled it this year if you don't mind me asking?
i think its been done 4 times; 2 from those morons with the mortgage company, once for a store card, and I honestly forget the other one, was prolly for a card i got in the 4th quarter of last year that is probably now off; i just havent looked in the last 60 days.
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