I am a loan officer for a mortgage company refinancing one of my clients. He is stating his income as he is self-employed. One of the conditions required by the lender is a 4506-T tax form. I forwarded it to my client, but he is hesitant to submit this form in fears of being audited by the IRS? What is the likelyhood of this actually happening and what would need to happen for the IRS to take such drastic measures? Otherwise I’m not sure why this is a requirement from the lender…
Of course I haven’t been a loan officer for very long…if I had been in the industry for many years, I doubt I would be coming to Yahoo Answers to obtain smarmy replies from know-it-alls. But hey, you were all in the same boat at one point in your careers, right?

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I have seen around the internet that the maximum term life insurance policy allowed for a person in their 20s is usually 20 times their income. However, I was wondering if there are any policies that take into account the combined household income. If a husband and wife both make ,000 a year, are they entitled to a policy that is based on ,000 of combined income, or are all policies handled on an individual basis?

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I have a dear friend that is about to enter "long term care" as compared to the care she has received at a MAJOR hospital here in Houston. Is this the same as hospice care?

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Part of me does.

I mean, there’s this story of this retiree who actually drained his whole life savings making adds for radio. And I’m thinking: "Really? The guy’s retirement? Oh, seriously, that is just sick!".

But then another part of me just goes: Well, DUH! How you managed to hold on to it this long is a mystery to me!

Your take?

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i just opened a roth ira and i am getting charged 5% everytime i put money in. am i getting ripped off or does all ira’s have fees for watching my account?

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Mine has. My defined benefit plan and 401k plans are down big time.

I’m 23 though so I have a while, but it’s sure scary to look.

What about you? Have you taken a hit or did you see it all coming?

What are you doing about it?

Thanks!

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I think rafalski. Is more heart breaking

Im going to miss that d man for the d town

My mom had 2 appraisals while she had her Rev Mort. One completely omitted an entire room, and one listed her flooring as vinyl/carpet instead of wood/tile. Why did the lender loan her money when the appraisals were so wrong? Why elderly mom probably didn’t even look at the small print in them.

How could the lender not know about the missing room? That’s information that anyone can get. Sounds like the lender was being manipulative, Agree?

1. The increase in income that results from a job promotion linked to your education.
2. The increase in income of California orange growers due to an orange killing frost in Florida.
3. The annual cost of living adjustment to your salary
4. An increase in income from personal investments.

The fading generations Republican party wants to raise the retirement age on the youth in the name of fixing social security but how will a larger worker pool with lower wages that comes with more job competition going to help the youth. Same inequality that Egypt seen from their fading generations.

I’m scared that if the stock market keeps falling, I won’t have enough to live.

i just got a chapter 14-2 discharge from the Army. i was almost finished with my med board but i just stopped doing it cause my case worker said they would choose the chapter 14 over anything if they were pushing it. anyway i want my medical benefits can anyone tell me what i need to do or if there is anything i can do?

I’ve never invested money before, but I’d like to start a retirement fund and make some money to put towards buying a house later in life.

I’m looking for some how-to’s about investing and recommendations for ways to invest in socially responsible ways. Can any help?

My sister has power of attorney over my mother. She told the nursing home where my mother is staying that I wasnt allowed to see her or have any contact with her, as my sister does not like me. Is there anything I can do?