St. Valentine’s Day comes around once a year. It is a holiday that
many feel carries a heavy burden of proving one’s love for others.
It’s a holiday that is filled with romantic expectations of flowers,
exotic dinner, lavish gifts of appreciation, and love. Despite the magnified
commercialized nature of this holiday, it is a holiday that doesn’t
appear to be going anywhere soon. Sometimes when I think of Valentine’s
Day, I take a huge breath and let out a sigh because oddly enough it is
a reminder that it is time to file taxes. The purpose of this blog is
not to discuss Valentine’s Day and find some clever way of tying
this in with advice about foreclosure, but a friendly reminder that if
you are interested in working on a modification, you must provide tax
returns and thus should file your taxes timely.
In order to be reviewed for a modification, there are a series of financial
documents that must be provided to the lender. For example, monthly bank
statements are needed, proof of income, property tax bill, proof of property
insurance, child support documents, and of course tax returns, which are
some of the many documents that are needed. Lenders want a copy of the
tax returns that were filed in the last two years. It is important that
you seek the professional assistance of your accountant or professional
who files your taxes. If you do not file taxes, it is important to get
information from Lender on how they would like for you to go about this
as different lenders have different requirements.
Just as many dread Valentine’s Day, even more dread filing their
taxes, however it is a necessary evil.
On the corner of Cupid and Taxes, Sonja-Lucienne Cajuste