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Updated almost 6 years ago on .

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7
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Brian Mahan
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7
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Non-QM, Loan purchase with lease issue, please help!

Brian Mahan
Posted

Hi, I was pre-approved for a non-QM loan and am very close to sealing the deal on a duplex.  However some issues came up with one of the leases.  I closed last December on another duplex that I'm using to qualify rent for income.  One of the couples living there had their mother sign the original lease as the tenant and  next to her name was the couples first names,  I guess a form of co-signer. The next year the daughter signed a lease renewal that would have her living there well into my ownership.  When we transferred the lease the title company only got signatures from the boyfriend.  The female tenant as expressed that she would want to move out and knows the boyfriend only signed.  How do I fix this without losing my current deal? I need to count the income and to count the income i need a lease!