Elle Paris

Thanks for this post! It makes me think that perhaps we are not looking for the right loan and that no one has been able to guide us in the right direction as of yet... perhaps it would mean too much work for too few dollars, I dont know. I am not sure as to which sort of loan we should be looking for ...if any:cry: ...so we would be very grateful for any help in this direction! Anyway we have joint tax returns but since we write off all that is legal and true we do not show enough income even with the add-backs. However if our bank account statements were taken into consideration, it would ea

Thanks for your reply. Yes, that would be us: hubby-ex-Marine with credit scores in the 730s, small business owner for over 20 years and still going strong. Me, with 0 credit since the last credit I had built was in 1970 before leaving for France- back since 2006, married in 07, but no credit activity since I work as wife in the Mom/Pop business for free. we could afford a modest home between 200 and 300K but no stated income loans to be found. If they looked at our accounts, they could easily see what we can afford to pay. How else could we swing it???

Thanks for answering at least that one! I was hoping the charity write off question would get some reaction since it is probably the trick...

How many posts does one have to have under one's belt before members have the common courtesy of replying?

Could anybody please reply with positive or negative remarks, or solutions, suggestions or observations? This is an important issue concerning many honest hard-working people who are paying for the dead-beats who lied about what they earn so as to get into a house they couldn't afford, resulting in the end of stated income loans as we knew them. Is there any form of stated income loan to be found? ..perhaps for vets?

Does that mean that it can be a charity tax write-off? Is that how they swing it?

Hello, Your posts caught my attention while I was surfing trying to find out if stated income loans are still to be found for a home purchase in CA. We haven't ever gone VA (hubby ex-Marine) since such a VA loan, what with all the legal and true tax write-offs, the on-paper income/debt ratio won't work, even with the add back ins; so, although we could afford a nice but modest home with a monthly payment of $1500 or so, tax and insurance impounds included, we seem to be paying for the dead-beats. For the time being, the money we can put down is $13K but that sum is growing all the time despite