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Question about mortgage when I apply loan or line of credit with cash back Do I count as income …..Something to show proof of fund in bank if qualify for second house as income? Would this work out with lender new loan?

2 Thoughts on Borrow money as income ?
  1. Reply
    Abel G
    February 6, 2014 at 11:41 am

    Absolutely no.

  2. Reply
    WiseOwl
    February 6, 2014 at 11:43 am

    No. Money you receive from a loan is not income.

    The only time a loan is counted as income is when a bank charges cancels a debt. In most instances, the canceled debt is treated as income.

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