Monday, July 14, 2008

You can't make this stuff up

"Stricter Mortgage Rules Adopted: Borrowers Must Now Prove Income."

That's a real headline. From today's papers. And not The Onion.

Now, having never had a mortgage of my own, I'm not familiar with the ways of getting such things but I would think if I was a lender and could ask one question and one question only it might be something like "what is your income?" You know, I might even ask to see a paystub. Or an official letter from an employer. But then, that's just me.

Perhaps some lenders like to just go on a hunch.

5 Comments:

Blogger ButtonHole said...

Atta boy!

10:38 PM  
Blogger Tania Rochelle said...

That's news to me. When we bought our house, I had to show proof of income, produce a clean bill of health, get DNA results for each of my children, take the GED, and pass a field sobriety test.

9:27 PM  
Blogger Howard said...

Hell, I think I had to do that and take a colorectal exam just to RENT my house! Of course the colorectal exam was my idea but still!

12:07 AM  
Blogger minus five said...

it's relieving to a non-homeowner that a person doesn't actually have to PASS the GED to get a house.

and a colorectal exam?
duh.
who doesn't want one of those?

3:45 PM  
Blogger ButtonHole said...

Oh, hey, I've got an even better one. Well, okay, not better than the colorectal, but close. (LOL on the "your idea" comment!)

There's a movie rental store here in town run by a clinically insane guy. I was deathly ill and had a movie three days late (fee was six bucks, which I paid). When we were buying our house, would you believe this Nut had turned my late fee in to the credit bureau and it was on my credit report?? I had to repay the six bucks before we could purchase our home because who gets a receipt at a movie store????

9:19 AM  

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