Received an IRS cp 59 letter requesting 1040 even though I didnt work ?
I didnt work at all in 2007 (home maker between 97 until this year had a big med mal suit and also boyfriend was old fashioned and made me stay home and my grandparents gave me cash gifts.)
but i had bought a house with cash proceeds from a condo sale in late 2006
i had my first mortgage as of 2007. no doc loan. used cash from condo sale to pay for it for last 2 years.
now im single with no bf and I have learned job skills and started working again earlier this year.
so i guess mortgage interest was reported to irs and their computers flagged me
is this a big deal ?
or should i just send back their form and say i was unemployed ?
i notice someone else on yahoo answers asked a question about his young daughter receiving the same letter for 2007 return”
My 10 year old daughter recieved a IRS letter cp 59 for tax year ending 2007?
The only income she had was 597.00 long and short term capital gains. was she required to file? how should i respond?”
has something happened where irs is flagging anyone ?
even unemployed homemakers and 10 year olds ?
anyway how should i reply ?
Can anyone tell me if this is a good loan please take into consideration I have had a problem obtaining a loan due
them telling me my credit score is between 580-620
i have very little credit history and only a few debts due which are recent. This loan was offered by someone I know working
with mortgages. I also am applying for no doc loan as I have my own business but have very little business income to show and due to situation where my tax returns have been unfiled
pending proper execution of estate taxes and court settlements which will be reflected on my returns and lack of ability hire someone to complete the returns acurately
it was offered to me for a 200,000 loan
it says conventional fee simple purpose of loan purchase
interest rate 10.750 arm 5/1 no months 360/360
first mortgage payments monthly 1,866.96 estimated prepaid items 1,791.67 which is interest for 30 days @ 69.7222 per day estimated closing costs 12,914.00 cash from /to borrower