Good Morning!
If you receive money from the State or a County sponsored organization for providing foster care for children you can use this money as income to get a mortgage.
Foster care income is considered acceptable stable income as long as the borrower has a 2 year history of providing foster care services.
To prove this income we would need…
• Letters from the organizations providing the income.
• Copies of the borrower’s signed federal income tax returns that were filed with the IRS, or
• Copies of the borrower’s deposit slips or bank statements that confirm the regular deposit of the payments.
That’s it for today!
Have a good day today! …and thanks for reading.
Do you need cash out of your home, but you don’t want to refinance the…
I wanted to address the two most common questions that I get regarding reverse mortgages……
Do you need cash out of your home, but you don’t want to refinance the…
Would you like to get cash out of your home, but you don't want to…
If you need cash out of your house, but don't want to touch your first…
I wanted to address the two most common questions that I get regarding reverse mortgages……