They approved the loan. We signed the docs on Tuesday thinking everything is done. Suddenly this morning I got a call from the Broker.
She said before funding, the lender wants to know why my wife’s income dropped from 2008 to 2009. I explained that my wife had less overtime hours in 2009. And then the lender also wants to know what is my 2008 schedule C income of my 2008 tax form? I explained that it was a loss in mutual fund investment.
Don’t they do this before approving the loan and doc signing?
