Tuesday, June 2, 2015

Are there any mortgage lenders who don't look at your taxes?


I am currently trying to buy my second home however Wells Fargo will not allow me to use the rental income from that property because I wrote off more than I received in rental income.

I made improvements on the house and paid off the second mortgage which should have looked good but apparently it was a bad thing and i should have not written off the expenses for improvements because that hurts your income. So confused right now. I have a great financial picture and making money and saving money but now I'm going to have to rent and pay someone else's mortgage.

If I can find a lender who doesn't check tax paperwork the write offs won't be a factor.
Added (1). I am buying a second house because I am moving. I am almost tempted to sell my first home just to eliminate the problem

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