Home Equity Lender wants Tax Returns

Discussion in 'Economics' started by RobtF, May 6, 2009.

  1. RobtF


    My Home Equity lender (the successor to Wash Mutual which went down) has requested tax returns for past two years and income verification. Anybody else? Should I be worried?
  2. Thats the way it use to be. In the past you had to provide W-2's Tax returns, letter from employer saying you were doing a good job and likely to remain employed.

    They would even call your employer on the DAY of the closing to make sure you were still employed.

    Housing is still 50% overvalued at least here in California.


    PS Yes you should be worried if you have lied on your mortgage app. Its against federal law to do that. Funny no one gave a shit in 2003
  3. Only if you lied on your loan app.