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re: USDA Loan - Business Loss reported on prior Tax Return. Help!
Posted on 4/7/16 at 10:34 am to sdedwar2
Posted on 4/7/16 at 10:34 am to sdedwar2
I'm not saying you cannot handle your money and that you are irresponsible, because nothing in your OP indicates that. I was merely speculating that $6k on a house isn't a huge amount of money. I can easily afford my rent if my income dropped $500 as my rent is less than 10% of my monthly income, but this thread isn't about me. You just seemed overly worried about what amounts to nothing in regards to your mortgage. And when people are worried about it that much it signals financial issues.
1
Posted on 4/7/16 at 1:55 pm to JamalSanders
The UW isn't thinking with his RD cap on. He's thinking with his regular products in mind and trying to UW based on that. Your broker needs to communicate back to him by showing him the policy that guides the income.
I don't see the AGI reduction as any issue whatsoever, especially considering the section you're referencing. You can confirm via paperwork that the business dissolved and is no longer capable of reducing your income as a result.
You can also confirm via paycheck stubs, written & verbal VOE that you're at your current POE making your current rate of pay. This should be way more than enough to overcome any stip regarding income requirements for RD.
It's good to be concerned, but don't worry too much about this. You should be good to go, bro.
I don't see the AGI reduction as any issue whatsoever, especially considering the section you're referencing. You can confirm via paperwork that the business dissolved and is no longer capable of reducing your income as a result.
You can also confirm via paycheck stubs, written & verbal VOE that you're at your current POE making your current rate of pay. This should be way more than enough to overcome any stip regarding income requirements for RD.
It's good to be concerned, but don't worry too much about this. You should be good to go, bro.
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