Posted on: 19th Aug, 2010 04:33 pm
[font=georgia:3468b53ba5][/font:3468b53ba5][color=indigo:3468b53ba5][/color:3468b53ba5][size=12:3468b53ba5][/size:3468b53ba5]i am trying to refinance my house and an investment property that i own. i am also in title to my mother's house along with my brother. my brother is on the financing for my mother's house and my mother pays rent to him. because i am split the tax deductions (mortgage interest, insurance, etc.) with my brother and claim this as a rental property, the lender wants 6 months of canceled checks from my mother as proof that she pays the rent. why do they need this?
Welcome maggiemoo,
I guess the lender wants to check whether or not the rent is being paid on time. That's the reason why he wants 6 months of canceled checks from my mother as proof. You should contact your lender and ask him as to why he requires the canceled checks. He would let you know the correct reasons for the same.
I guess the lender wants to check whether or not the rent is being paid on time. That's the reason why he wants 6 months of canceled checks from my mother as proof. You should contact your lender and ask him as to why he requires the canceled checks. He would let you know the correct reasons for the same.