There are more than I expected, but LO doesn't seem too worried, but I am.
- Provide written verification of employment
LO is getting this.
2. We need a signed letter of explanation with supporting documentation regarding the following deposits: 06/05 $2634, 06/06 $2624, 07/31 $4400
LOE completed- Easy peasy
3. The following tax liens must be paid and released for me; State tax lien $4011 & Federal tax lien for $19,859. Must source and document funds used to pay.
I do not actually owe this. It is a long story but this is an error. My EA/CPA has been my POA on this for years and we have handled it multiple times and it gets accepted by the IRS and then I start getting notices on it again and someone at the IRS says the file was lost or some other lame excuse and we start dealing with it all again. I think state is paid off completely. Federal has been paid down to about $550. It has dragged on for YEARS. I am not even on the loan but California is a community property state so FHA looks at my debt too. These are from before we were even married. My LO said he will work on this from his end and I will work on my end to verify this information. He said he doesn’t think this will be a big deal.
4. We need a signed letter of explanation with supporting documentation regarding: Diamond Resorts timeshare– This is currently showing as past due in the amount of $11,165.
LOE Completed- I do not exactly what is going on with it or why it still shows as open when we haven't made a payment on it since Aug 2007. It was during our hard years when my Realtor income disappeared and they had so many people defaulting they tripled our maintenance fees and we could not afford the timeshare anymore.
5. Provide evidence of child support obligation or evidence you are no longer required to pay.
Husband paid child support until his daughter graduated high school last May 2012. I will call the child support office on Monday to get a verification letter.
6. Please provide K-1's for 2010 & 2011 to verify percentage of ownership and any possible income or loss.
I don't know what a K-1 is, but my LO said it is easy to get so I will call the accountant to get this on Monday. Husband owns 25% of the franchise he has worked for 28 years. He does not take dividends or put money into the company. He only gets his salary and bonuses but he does own 25% of the company.
To see the details of our story look for the title: Our 21 day FHA loan...will our past come back and bite us?
