Fema Employment
Could I be refused a loan because of this?
Hello, I am currently in the process of refinancing my home. The mortgage company (Stonegate) has already done the appraisal and all my paperwork has been signed and submitted. Yesterday the agent assisting me had me sign a form which will release my last two years tax returns...I guess to verify my bank statement and employment history? My question is this...I work in Iraq as a Department of Defense civilian and we have the same status as deployed military personnel. Can my loan be refused since I do not pay federal income taxes (wages under $91,500 are exempt from taxes by submitting form 2555) Bank of America would not even give me a good faith estimate because of this and I was later told they are not permitted to deny me because I am deployed military status..but, maybe someone knows better? Any info would be appreciated. Thanks!
Public Comments
- The underwriter wanted this form signed so as to obtain a record of your income tax forms. They do not receive your complete return, simply certain lines of your federal income tax return. You would not be denied or refused for not legally being required to pay federal taxes. This actually might help as you now ave more provable income. This question might have been asked of your mortgage loan officer, he/she get paid for answering these type question, and you are paying this loan officer. Run this question by him to find out his reaction about deployed military and those civilians that are offered the same privileges. If he do not have an answer, tell him it is important to you, so please find out from someone. This could be a learning experience for him. I hope this has been of some benefit to you,good luck. "FIGHT ON"
