Sunday, April 6, 2008

Indies & Mortgages and proof of self-employment

Hi June:

I'm refinancing with a stated income loan. I work in a facet of mortgage lending for 17 years. For 12 of those years I was self-employed. What I do for a living is well known to the lender and my income was not questioned.

The last closing condition requires me to prove that I am self-employed by providing a letter from a CPA. I have always done my own taxes. I don't even know a CPA. How do I prove my status? Can I hire a CPA for the sole purpose of writing this letter?

Thank You!
Kathy Honolulu, HI


Hi Kathy,


Yes, you may hire any tax professional with letterhead stationary. Show the tax pro your tax returns and she may write the letter for you. The fee for this should be small.

Best,
June

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