I filed a tax extension. Will lenders want to see my 2008 taxes or will prior year taxes be sufficient.?

Asked by John Bridge, Billerica, MA Fri Apr 17, 2009

I filed a tax extension and don't plan to file my taxes till about October. Will lenders want to see my 2008 taxes or will prior year taxes be sufficient. I am self employed.

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Ken Lambert’s answer
Ken Lambert, , Exeter, NH
Mon Apr 20, 2009
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.
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Deb McCourt, Agent, Ashburnham, MA
Sat Apr 18, 2009
Absolutely, especially in this market, they'll need to see the latest one or .................you should have bought in March ! :)
Go get'em done.
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