“For our review”
July 4, 2014
Joe, I’m in the process of building a new home. The morgage company wants me to sign a release in order to review my last year’s income tax returns. Is this mandatory?”
In order to get a mortgage, verification of your income, usually through your income tax returns, is mandatory yes. In fact, usually they’ll ask for 2 years of returns to verify your income,
particularly since the economy challenges and changes have come about in the last several years. Verification is even more stringent. If you’re not comfortable sharing this information,
unfortunately, you won’t get a mortage. There’s no getting around income verification or review of your tax returns if you’re seeking a mortgage of any kind.