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    lovelylucy's Avatar
    lovelylucy Posts: 1, Reputation: 1
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    #1

    Jul 3, 2009, 07:16 AM
    Getting a mortgage with no proof of income?
    My sister is trying to buy a double wide trailer. The cost after financing is going to come to about $95K. Her and her husband have already put down some money on the place, I think it was a deposit to keep it on the lot or order or something, not sure.. they were pre-approved for the loan and are now asking for proof of income for the last two years.. her husband is sorry and he hasn't had a job for about three years.. he just recently started working and has been there for about 3 months.. my question is if I should try to convince her NOT to go through with this? The job he is working now is not a permanent one and he is only make 10 an hour but the place told them that getting a loan should be no problem.. he lied about working to and said that he was self employed before which is why he has no tax returns or proof of income. Someone help or give some advice.. I have such a bad feeling about this.

    Lucy
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Jul 3, 2009, 07:28 AM

    Should not be a problem talking them out of it. They lied to the lender, so as soon as they find this out, or tax returns can't be provided, they will not get the loan anyway.

    If they don't have the income to pay off a 100,000 mortgage they have no business getting a loan anyway
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