No. of Recommendations: 4
Yeah... I saw this blurb in one of our industry rags too...

1. the complainant improperly used the term 'annuitize' which isn't what is actually done at all, and which has thrown this board for a loop... there is no annuitization involved (not directly, nor imputed by underwriting considerations.)

2. the complainant is unfamiliar (apparently) with 'assets-for-income' loan qualification terms offered by various portfolio lenders. Even FannieMae offers it, albeit at a non-competitively conservative level.

Anyone who can stroke a check to buy a residential property can also qualify to make payment on a mortgage to buy that property... there are ways, and its not all that incredibly rare.

Cheers,
Dave Donhoff
Leverage Planner
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