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Thread: Taking out a mortgage, LM tax return, bank

  1. #11
    Only Federal Reserve income will be counted as income for the purpose of taking a loan of Federal Reserve credit (mortgage) in my experience. This is the dual nature of our currency in action. Lawful money vs Private credit. They call it income verification yet I'd say they're asking for tax return to see the amount of Federal Reserve income, as final confirmation of your consent to treat whatever you received as FR income.

    As it should be. Only things of like order will reproduce.

    Therefore if you made $100,000 last year of which $20,000 was Federal Reserve income on the IRS return, then your income in the eyes of the bank equaled $20,000.

    Also, see this thread: "if it's not on the tax return the loan company cannot count it."
    Last edited by lorne; 05-23-17 at 12:53 AM.

  2. #12
    Quote Originally Posted by lorne View Post
    Only Federal Reserve income will be counted as income for the purpose of taking a loan of Federal Reserve credit (mortgage) in my experience. This is the dual nature of our currency in action. Lawful money vs Private credit. They call it income verification yet I'd say they're asking for tax return to see the amount of Federal Reserve income, as final confirmation of your consent to treat whatever you received as FR income.

    As it should be. Only things of like order will reproduce.

    Therefore if you made $100,000 last year of which $20,000 was Federal Reserve income on the IRS return, then your income in the eyes of the bank equaled $20,000.

    Also, see this thread: "if it's not on the tax return the loan company cannot count it."
    Thank you for reminding us Lorne.

    Suitor saves home...


    I knew something was not adding up when I could not understand the opening post correctly. This is just a different perspective on the same thing. The difference between US notes and FRN's. And how blending them will cause the OCC to fire and close entire credit union chains.

    So if you can get a loan on the wife's income, you get ridiculously low payments. But from this perspective you get a much smaller home, in a low-income neighborhood. But then, since you earn so much redeemed income - your 30% pay raise - you can save up pretty quick and have a big down-payment or better yet, buy outright.

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