Posted on: 26th May, 2011 10:36 am
I have a Loan question. I have a client that receives a worker compensation settlement for her husband every month. When he received the settlement many years ago he was undocumented. He is now legal but they still receive a settlement amount every month into a bank account that lists his wife and the former alias name. We need to tie the money to her husband in order to get them qualified for a loan. When he did all his paperwork to become legal the name he receives the money under was listed as a past alias. Has anyone ever had to deal with this type of situation? We are located in California. Thank you
As long as you can paper trail who the names are and who the name are on the assets, then you should be ok. All the pieces should fit together for a UW to sign off.
Makes sense, Chris - documenting everything with whatever paperwork remains from the past along with the new ought to be persuasive for a lender.
