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  • Comment Detail

  • Date: 01/15/21
    First Name: LYDIA
    Last Name: LINDBERG
    Email: lydialindberg@gmail.com
    Organization Type: other
    Organization: NA

  • Comment

    My husband is trying to get a cash out refi on a duplex he owns to allow for payoff of debt accumulated to renovate it. He owns this property separately as he inherited it. Our primary residence is in my name solely. Oddly, the FNMA rules do not allow him to use the income generated from the duplex to support the loan as he does not have primary residence debt! How crazy is that??? This flys in the face of providing support for small borrower's in generating income for retirement purposes while huge corporate entities are provided funding to construct large apartment complexes!!! THIS DOES NOT MAKE SENSE!!! Individual small property owners should be provided the same opportunities to have investment properties as large corporations do! The underwriting for smaller individual ownership should allow the same things provided to larger owners!!! IE, underwrite and approve loans based upon net income the property generates! How the hell else are smaller property owners ever able to get ahead??????