Stated Income Second Mortgages: Understanding No Income Verification Loans
What is a stated income second mortgage? A stated income second mortgage is one that does not require the borrower to prove income stated on the application. This is most advantageous to self employed and contract workers who receive a 1099 instead of a W-2 as they would have a difficult time proving their income. [...]
Saturday June 19th, 2010 in , Contract Workers, Credit Card Debt, Credit Score, Educational Endeavors, Fixed Rate Second Mortgage, Home Equity Loans, Home Improvements, Income Loans, Income Mortgage, Income Verification Loans, Loan Lenders, Mortgage Home Equity, Mortgage Lenders, Mortgage Loan, Mortgage Loans, No Income Verification Loans, Principal Interest, Second Mortgages, Stated Income, Verifiable Income | No Comments »