ON W-2s: PLEASE ANSWER THE FOLLOWING:
If the bank wants w-2s, and there are 2 people on the mortgage (mom & daughter), and one of them hasn't been able to produce her w-2s (daughter), and the mother gives you 2 of them (one for lets say 10k the other for 40k), and the mortgage is let's say $14000/mo (PITI) and they are 2 months behind,
would it make sense to send in the $10k w-2 info from the mother as the only source of income, and argue that that's why they are unable to make payments
would the 10k be considered too low and questionable
would the 40k be looked at as enough to meet there monthly obligation, which would jeaopardize the short sale acceptance
or would they prefer to see the 40k, and just try to show that their other expenses are very high....
This would be my 1st short sale submission and I just want to be as efficient as possbile... Thank you all in advance.. Best Regards...
AJB 8-)
You need to make full disclosure and send in both W-2's. If not this might be considered loan fraud. Is a few thousand dollars worth a prison sentence.
Wow! Well, when you put it that way, I think the answer becomes clearer (LOL)... Thanks for the response.. Enjoy...
AJB