Re: Home Equity Line of Credit and remodelers

Posted by steven (67.113.215.139) on October 07, 2003 at 02:11:41:

In Reply to: Re: Home Equity Line of Credit and remodelers posted by Need Improvements on October 04, 2003 at 09:29:31:

I recommend you act quick on that loan if you are about to get laid off. The lender will need your most recent month of paystubs. So, if you apply for the loan in November, they will need your October paystubs. If you are not able to furnish them with the proof that you are bringing in a steady income to pay for all your monthly debts, theres a good chance you will not qualify. Of course, you can always go on a "Stated income" but that will cost an extra percent in interest rate. "Stated income" meaning that you do not need to provide proof of your income.

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