The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/for-some-reason-many-lending-institutions-primarly-30285696.aspx

Subject:  Re: Something Funny Going On Date:  9/26/2012  11:54 PM
Author:  CABob Number:  116675 of 121061

For some reason many lending institutions primarly look at income and ignore assets or net worth. For the last home loan I got I had to show that I was taking withdrawals from an IRA in a sufficient amount to cover the mortgage payment even though I could show that the IRA had enough in it to buy the home twice or more. And that was at a credit union.

Bob
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us