What are tax returns used for when approving mortgage?
I forgot to file taxes in 2005. I have to turn in past 2 years tax returns for final mortgage approval. I filed the return right away, dropped it off at local office with check for balance. Will this hurt my chances of the mortgage going through? Bank had my W2s and tax returns will match up.
They are used for income verification. If they have your W-2’s including the ones for that year, it probably won’t be a problem.
You forgot to file? How do you just forget to file? If you owe anything, figure you’ll be hearing from the IRS one of these days. If you don’t hear from them, it’s because you had a refund coming – if you don’t file, you forfeit that.
Can someone help me come up with teller referral questions for the following scenarios?
large balance checking- no savings
Savings no checking
Checking & Savings-nothing else
Loan no checking
Balances totaling over $100,000
Customer has children
Business owner no personal accounts
I am trying to come up with questions to up our teller referrals and up my new accounts. Any ideas will be helpful. I’ve been thinking about this for a long time and I need some fresh ideas.
I am a personal banker. I have the responsibility of making scripts for teller referrals.
Here’s a few ideas I had…
-Loan, no checking:
“Mr. Customer, have you ever thought about opening up a free checking account with us? You would get (list certain benefits specific to bank) and you’d be able to take care of all your financial needs right here in one branch. Let me introduce you to Ms. Banker here who can give you more information…”
“You don’t have an account here? That’s alright, we can still cash the check. Are you banking anywhere locally? If not, we do offer checking and savings accounts here that would allow you to cash these checks and any other checks you get in the future. Here is Mr. So-and-so for more information…”
-Customer has children
“Hi Ms. Customer, did you know that we offer savings accounts just for children? We can even set up automatic transfers from your checking account to help save money for your little ones. Let me introduce you to one of our bankers who can get that set up for you.”
Of course, any script would have to be tailored to whatever products your bank offers and and specials going on at the time. The suggestions I gave may be too long for specific teller scripts but they can be adjusted. I do know they work from past experience. Hope that helped a little. Good luck!
My divorce was final in 2000. Refi hm loan. Bank will not issue a check for escrow balance in my name only.?
Seperated in 1997 in CA. Had a joint home loan. I was awarded the house in the divorce settlement. Finalized in 2000. Filled inter-spousal transfer of deed into my name only. I refinanced the original joint home loan in 2004. The bank will still not issue a check in my name only for the escrow balance of over $1,000.00. My bank will not cash the check because my Ex’s wife name is not on the account. How can I get my old mortgage company to issue the check in my name only? I have spoken to them many times. They refuse. HELP!! Thanks!!!
Can you have them issue the amount in numerous smaller checksl with just your name on them.
If I sell my home for $300K and owe $200K on mortgage, does the bank automatically pay off my mortgage balance?
and give me the remaining balance or do I have to send them the $200K from the check?
The bank will not release the title until all liens (including mortgages) are paid. Therefore all liens and other costs are paid before you get the remaining balance.
All of that is handled during closing by the escrow/title company.
How to lower my mortgage account balance by atleast $10000?
My normal monthly payment is $760. I am not sure if I write a 10000 check next time when my payment is due. would it lower my total balance by atleast $ 9500. would the extra amount go towards principle? please help?
You have to note it on the bill on the extra payment column to go to principle and make sure to follow up with the bank.
I would even go to the bank if possible and have them turn the screen around so you can see how the teller keyed it if the branch accepts payments.
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