The biggest problem is documenting it..
If people pay by check, every month and it can be documented, I think it is possible with FHA as border income…but I think that it must be reported as income on tax returns.
I HATE FHA LOANS and the fees and the guidelines, so I don’t keep up with them…
Lotsa people are getting screwed right now with FHA loans,, they could become the subprime mess of the future, leading to more foreclosures.
Lotsa mortgage ppl are pushing buyers into FHA loans,,without explaining better options to the buyers.. shame on them.
