U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-19-2018, 08:46 AM
 
Location: San Antonio
3,184 posts, read 9,227,803 times
Reputation: 4721

Advertisements

All,

I need some advice. My lender is asking me to alter tax documents, but not majorly. I'm uncomfortable with it, but they won't budge.

I signed with a "PIN" versus a wet signature. I have tax transcripts, a print-out from my bank showing my refund, and a print-out from the IRS showing my refund. However, the lender insists that I MUST sign my 1040.

The IRS accepted this from without a signature, and went so far as to issue a tax refund, but I used a "PIN signature" which is legally accepted.

If I sign the 1040, I'm changing a document that is already on file with the IRS, in order to quality for a loan. But, since I'm not actually changing any of the income amounts, is this OK to do?

I'm so frustrated with this lender, but I have weeks investing into this mortgage and I don't know if it's worth walking away from on principal. I would be changing a filed tax document in order to qualify for a mortgage, and not amending my taxes with the IRS. It doesn't sit right with me. The lender is asking like this isn't a big deal.

Any mortgage brokers here who could offer advice?

Thank you!
Reply With Quote Quick reply to this message

 
Old 04-19-2018, 10:03 AM
 
Location: North Idaho
20,999 posts, read 25,765,271 times
Reputation: 39390
Sign the thing, mail a copy of the signed form to the IRS as an amended filing. Stop worrying about it.
Reply With Quote Quick reply to this message
 
Old 04-19-2018, 10:27 AM
 
3,317 posts, read 7,255,247 times
Reputation: 4095
Quote:
Originally Posted by dmarie123 View Post
All,

I need some advice. My lender is asking me to alter tax documents, but not majorly. I'm uncomfortable with it, but they won't budge.

I signed with a "PIN" versus a wet signature. I have tax transcripts, a print-out from my bank showing my refund, and a print-out from the IRS showing my refund. However, the lender insists that I MUST sign my 1040. Signing your 1040 is not "altering" anything.

The IRS accepted this from without a signature, and went so far as to issue a tax refund, but I used a "PIN signature" which is legally accepted.

If I sign the 1040, I'm changing a document that is already on file with the IRS, in order to quality for a loan. But, since I'm not actually changing any of the income amounts, is this OK to do? You are being ridiculous.

I'm so frustrated with this lender, but I have weeks investing into this mortgage and I don't know if it's worth walking away from on principal. Trust me, the Lender is sick of you as well. I would be changing a filed tax document in order to qualify for a mortgage, and not amending my taxes with the IRS. It doesn't sit right with me. The lender is asking like this isn't a big deal. It's not.

Any mortgage brokers here who could offer advice? Yes: Stop being difficult.

Thank you!
.
Reply With Quote Quick reply to this message
 
Old 04-19-2018, 10:58 AM
 
9,270 posts, read 7,295,540 times
Reputation: 22756
People amend their tax returns all the time.
Reply With Quote Quick reply to this message
 
Old 04-19-2018, 11:19 AM
 
Location: Columbia, SC
8,844 posts, read 17,443,646 times
Reputation: 6199
Yes, agreed with everything pfhtex says.
Reply With Quote Quick reply to this message
 
Old 04-19-2018, 11:23 AM
 
Location: Raleigh
6,965 posts, read 5,191,475 times
Reputation: 9400
I had to do the same thing. I didn't think anything of it, honestly. I wasn't altering anything. I was signing a document that I sent on to the lender.
Reply With Quote Quick reply to this message
 
Old 04-19-2018, 12:34 PM
 
1,528 posts, read 725,886 times
Reputation: 2062
Quote:
Originally Posted by oregonwoodsmoke View Post
Sign the thing, mail a copy of the signed form to the IRS as an amended filing. Stop worrying about it.
Quote:
Originally Posted by charlygal View Post
People amend their tax returns all the time.
Are you REALLY advising someone to formally amend their return with the IRS while in the middle of applying for a mortgage?

Correct me if i'm wrong but 'amending' your return is a process of filing an amended return and that process involves the use of a special amendment form - 1040X. So basically you refile on a completely new form. Work is required to fill it out. Who wants to get the IRS looking over their their taxes again? Maybe IRS is confused and it goes into a 'special file'. Who knows how these things work.

Signing the form and mailing to the IRS with a little sticky note on it is not filing an amended return. And no IRS process that I'm aware of. But correct me if it's an accepted way to amend a return.

I would not tempt fate by filing an amendment to my tax return as I'm applying for a mortgage. Lenders can get data from the IRS and there have been fraud cases around this sort of thing. Obviously this is not fraud but amended returns can put up red flags when you are in the middle of an application.

Happy if I can be properly corrected but for many reasons this sounds like poor advice to me.
Reply With Quote Quick reply to this message
 
Old 04-19-2018, 12:45 PM
 
1,528 posts, read 725,886 times
Reputation: 2062
I'm not qualified to say how to handle mortgage documents but perhaps one idea would be make a statement that this is a true copy of your return, sign and date it with today's date. If they would accept that. That's different from 'signing your return'. You'd simply be certifying that it's correct. but it could raise flags in the back office if that's not normally done.

I suppose they want to make you backdate your signature? to when? To when you actually completed the form? Or use today's date? which is not when it was actually 'signed' electronically.

I can see why they want a signature but I think they should handle it as I've suggested rather than making you 'sign the form' as you would prior to submission. I do understand your discomfort but sometimes you don't want to make life difficult for yourself and if they don't handle it this way, trying to trail blaze on it can be counterproductive.
Reply With Quote Quick reply to this message
 
Old 04-19-2018, 12:56 PM
 
Location: Columbia, SC
8,844 posts, read 17,443,646 times
Reputation: 6199
Quote:
Originally Posted by just_because View Post
I'm not qualified to say how to handle mortgage documents
I second your statement. If you aren't qualified or knowledgeable why are you offering advice? Seems to me that exposes you to liability for potentially harming a buyer and seller if this loan doesn't work out. Have you consulted a legal opinion prior to rendering advice?

Also, how do you figure that simply signing a document is "altering" it? The data is the same. You're as paranoid as the OP. Put away the tinfoil hat and join the rest of the population please.
Reply With Quote Quick reply to this message
 
Old 04-19-2018, 01:00 PM
bg7
 
7,698 posts, read 7,633,154 times
Reputation: 14991
Quote:
Originally Posted by dmarie123 View Post
All,

I need some advice. My lender is asking me to alter tax documents, but not majorly. I'm uncomfortable with it, but they won't budge.

I signed with a "PIN" versus a wet signature. I have tax transcripts, a print-out from my bank showing my refund, and a print-out from the IRS showing my refund. However, the lender insists that I MUST sign my 1040.

The IRS accepted this from without a signature, and went so far as to issue a tax refund, but I used a "PIN signature" which is legally accepted.

If I sign the 1040, I'm changing a document that is already on file with the IRS, in order to quality for a loan. But, since I'm not actually changing any of the income amounts, is this OK to do?

I'm so frustrated with this lender, but I have weeks investing into this mortgage and I don't know if it's worth walking away from on principal. I would be changing a filed tax document in order to qualify for a mortgage, and not amending my taxes with the IRS. It doesn't sit right with me. The lender is asking like this isn't a big deal.

Any mortgage brokers here who could offer advice?

Thank you!


Its quite ridiculous that the lender is stuck in the past - PIN has been legal for sometime now.
Signing it with an ink signature does alter it, legally, despite what people are saying here. But as some people have also stated here, its a piece of cake to file an amended return. So amend it by signing and file that.


A make a mental note to avoid that lender in future, get one who keeps current.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top