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CHAPTER VIII -- HOMEWORK TIME

LESSON 15: NECESSARY PAPERWORK

Sure, you're an honest person. But lenders won't just take your word for it when you say you make $100,000 a year and have $1 million in the bank. They'll want proof of your assets, income, credit quality and other things. So in this chapter, we'll talk about what kinds of documents you should get ready to hand over. They include:
Federal tax returns from the previous two years.
W-2 forms from the previous two years.
A recent paycheck stub that shows your name and Social Security number, the name and address of your employer and your year-to-date earnings.
Documents to show other sources of income, which could include income from a second job, overtime, commissions and bonuses, interest and dividend income, Social Security payments, VA and retirement benefits, alimony, child support.
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A complete list of your creditors, such as companies that have provided you with credit cards, student loans and car loans. You'll also need to show what your minimum monthly payments and total balances are.
Investment records, including mutual fund statements, real estate and automobile titles, stock certificates and proof of any other investments or assets.
Canceled checks that show your rent payments (or mortgage payments, if you already own a house and are shopping for a new one).
A copy of the home sales contract, which lists the price you've agreed to pay for the property, if you've found the home you want to buy.

(continued on next page)

 

 

TABLE OF CONTENTS

CHAPTER I
  Lesson 1
  Quiz

CHAPTER II
  Lesson 2
  Quiz

CHAPTER III
  Lesson 3
  Lesson 4
  Lesson 5
  Quiz

CHAPTER IV
  Lesson 6
  Lesson 7
  Quiz

CHAPTER V
  Lesson 8
  Lesson 9
  Quiz

CHAPTER VI
  Lesson 10
  Lesson 11
  Quiz

CHAPTER VII
  Lesson 12
  Lesson 13
  Lesson 14
  Quiz

CHAPTER VIII
  Lesson 15
  Lesson 16
  Lesson 17
  Lesson 18
  Quiz

CHAPTER IX
  Lesson 19
  Quiz

CHAPTER X
  Lesson 20
  Quiz

CHAPTER XI
  Lesson 21
  Quiz

CHAPTER XII
  Lesson 22
  Lesson 23
  Lesson 24
  Quiz

CHAPTER XIII
  Lesson 25
  Lesson 26
  Lesson 27
  Quiz

CHAPTER XIV
  Lesson 28
  Lesson 29
  Lesson 30
  Quiz

Definitions





RELATED STORIES

"Where do I get copies of my tax returns?"

How to obtain missing a W-2

 
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