Trailing spouse income freddie mac

Your spouse or partner, who earns a significant portion of the household income, agrees to quit so that you can accept the transfer.

Loan rules hit ‘trailing spouses’ | The Seattle Times

Worldwide ERC estimates that about , households in the U. In the most recent year in which the IRS has reported statistics — for — more than 1 million taxpayers filed for job transfer-related deductions.

Fannie Mae, a congressionally chartered investment firm, is now being run under a conservatorship arrangement by the federal government, as is its rival investor, Freddie Mac. The two corporations account for an estimated 70 percent-plus of all new mortgage volume.

However, Freddie Mac still counts trailing spouse or co-borrower income for loan applications, but under strict guidelines:. The loan officer or lender must also analyze that local employment market and verify that there are adequate opportunities and earnings potential for the co-borrower.

While Fannie previously counted percent of the claimed or documented value of stocks, bonds and mutual funds toward reserves, under its revised policy it will discount them by 30 percent. To illustrate: Kenneth R.

Loan rules hit ‘trailing spouses’

The loan officer or lender must also analyze that local employment market and verify that there are adequate opportunities and earnings potential for the co-borrower. Visitors to this blog are NOT obligated to click the ads to visit this blog. Comments RSS. You are commenting using your WordPress. You are commenting using your Twitter account. You are commenting using your Facebook account.

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Posts Comments. However, Freddie Mac still counts trailing spouse or co-borrower income for loan applications, but under strict guidelines: Washington Post Writers Group. Share this: Like this: Like Loading


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