Tag: Liability

Tax & Insurance Liability When Client is Named in a Family Trust

Body Question: Our client’s name is on a property that is under a family trust. He is one of three trustees for this property, and it is owned free and clear. How do I handle the tax and insurance liability? Answer: If your client is only on the title, or in this case as trustee […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Child Support as Reduction of Income vs. Liability

Question: Will VA allow child support to be deducted from the income, or must it always be treated as a liability? Answer: Spousal support may be treated as a reduction in income on VA Form 26-6393, Loan Analysis. Child support payment is treated as a liability on VA Form 26-6393, Loan Analysis. Reference: VA Lenders […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Scroll to Top