I have been trying to negotiate with my current lender for a Harp refi but all of the sudden they changed there tune and said there was an error code based on a 706 # given to my loan and they could not offer the stated income refi to me. my self employed tax returns are not showing enough income for a traditional harp refi . I am wondering if any one has had an luck finding a lender with stated income harp refi's. I have never been late, great credit, just not a lot of verifiable income.
posted: Mar. 26, 2013 @ 1:21p
We have some self employment income as well, but the lender didn't even want to include it on the application. Even though it would only have been supplemental, as we already had enough W2 income.
Seems like they see it as too risky. I would incorporate a business in a friend/spouses name, and get paid like a regular employee with a W2 and all. That way it's income from a W2 rather than a 1099 (thus making it alot harder to call it self-employment income). You may even be able to do this under your own name, but I would contact an accountant to be sure.
posted: Mar. 26, 2013 @ 9:24p
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posted: Apr. 16, 2013 @ 6:18p
this message is for tiedyed1 - I neeeeed help with getting my loan refi'd Wells fargo is a nightmare, I am hoping for HARP so I can get a principal reduction. Can you help me? email@example.com Thank you so much!
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