This free mortgage training video discusses liabilities that can be excluded from monthly debt payment-to-income-ratio : installment debts with equal to or less than 10 payments remaining, student loans under forgiveness,cancellation, discharge & employment-contingent, alimony,child support or maintenance under less or equal payments remaining, monthly payments on revolving or open-ended accounts that are paid off in full monthly, primary residence pending sale due to close before/after subject property note date, debt that borrower has paid down or off to qualify and more. Ideal for mortgage loan officers & underwriters.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
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