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Dr. Bob is Robert Hsiung, MD,
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Posted by Enigma on November 30, 2010, at 15:08:21
Hmm, was barely able to type in the title.
Has anyone who gets disability here (only source of income), via social security (U.S.), ever qualify for a mortgage or loan?
I called 2 different SSDI offices today and they cannot (do not) provide anything other than your award letter or income verification letter(s) to then hand over to a mortgage lender so that you can qualify for a loan. :( I kind of find this hard to believe, but then again, not much surprises me these days.
So I'm destined to lose my house in the divorce because I only earn disability? I was thinking of getting a cash-out refinance, but now this doesn't seem possible, as lenders want something in writing, that states that I will receive disability payments for at least 3 years.
So it seems like I have no choice but to sell my home, lose about 80k (+ about 20-30k in improvements over the past 8 years), because of the economy. That's just what I wanted to hear. Wait, no it isn't.
Had anyone gotten around this somehow?
This is the end of the thread.
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