Hi John- As a lender in NH and Mass, I know that we will ask for the 2008 taxes, and if you have officially filed for an extension, we (the underwriter) will delve into it all quite a bit- even without the official 2008 tax returns. It also depends on what field you are in.
If you are a realtor or a car dealer or contractor or something that most people know would be declining in 2008 versus 2007, then the underwriter is going to consider that as a problem.
If you want some more specific info, please let me know. Thanks and good luck,
Ken L.

Absolutely, especially in this market, they'll need to see the latest one or .................you should have bought in March ! :)
Go get'em done.