Why home loans are easier to obtain than a regular mortgage first?

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The paperwork and requirements for a first meeting is much more difficult. Why? I owe nothing on my page, I want a first for them, but because I work abroad and can not see the tax returns for 2009, I can not be a first. But equity house seems feasible. Why? In fact, I live in the house 4 months out of 12, and my account shows the payments monthly Bank of America in Tokyo. And the house is free and clear. They give me a second (first), but not a first. I do not understand the difference: Why did you give me one second, not first? Is it related to the origin of the funds? I want to know exactly how the system works. For the future.

2 Comments
  1. Reply
    Caveat Emptor
    May 1, 2011 at 3:23 am

    The house is not owner-occupied and you can’t provide documentation of income or tax returns – it should be easy enough to understand why lenders don’t want to give you a mortgage loan.

  2. Reply
    Kevin Williams
    May 1, 2011 at 4:04 am

    Kit if you need the money badly why are you trying to figure out the details of the deal? If they will approve you for the second and you are in agreement with the terms just take it.

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