MI Request

MI company is requesting a copy of my seller's retirement savings statement since she has payroll deductions for her 401k. I'm reluctant to provide this since the 401k is exempt. Can I refuse to provide this? What is the best response to MI?

1 member likes this

Replies to This Discussion

Permalink Reply by Heather Robins on August 5, 2011 at 10:21am

How is the 401K exempt? They will ask for her to withdraw money from that in their determination to bring cash into closing. I've fought the battle and lost, they consider that source of money and an asset... I do have the supplie a letter with it explaining if they haven't been at the job long enough etc.. to take the money...

RSS

Welcome to
Short Sale Superstars

Sign Up
or Sign In

Or sign in with:

Members

View All

Badges | Report an Issue | Terms of Service

Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.