Think they really care?
After visiting an open house one Sunday, they met a Realtor and were coaxed into making a full-price offer. Before they knew it, they were in contract to purchase an 863-square- foot, two-bedroom house for $609,000.
Their Realtor referred them to a mortgage representative, who took their application and suggested they go with the “stated income” format. They recall the phrase he used: “Your incomes need to match the home you are buying.” Apparently theirs did not, so he raised the income numbers by 40 percent.