Tag: voluntary debt

Fannie Mae – Voluntary Debt: A non-occupant co-signor disclosed that she voluntarily pays half of a mortgage for the home she lives in, even though she is not obligated on the mortgage. Does this debt need to be counted?

Answer: Because this expense is voluntary and not actually a debt for which your non-occupant co-borrower is liable, it is not necessary to list any housing expense on the 1003.  [Article Published in Question & Answer Issue – December 25, 2018] Copyright © 2018 – Mortgage Currentcy – All Rights Reserved

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