Has anyone else had to have this?

Question

My loan officer told me that before the underwriter can give final approval on our loan that I must provide a statement from my doctor stating that my disability(I receive disability payments monthly) will likely continue for three years. They claim this is to verify that my payments will be coming for at least three more years. I am having a hard time getting my doctor to do this, even though he helped me get my disability and the disability is not going to improve, he says that legally he cannot state what's going to happen over the next three years. I totally understand that, so how can FHA expect me to get such a letter? My husbands income is our primary income so we do have another source of money. Will they turn us down if I cannot get this? Oh, the social security office said that they could state that my disability payments will continue upon annual medical reviews. So pretty much the same thing as my doctor.

Answer 1

It sounds like your doctor is not all that sure that you will not improve.   Your condition is either chronic or it isn't.   It sounds like it isn't.

Since you are not relying on your income anyway just get the mortgage with your husbands.   The loan company is not going to accept disability as income if your payments are temporary.

Answer 2

that's crazy.  No one has a crystal ball.  Maybe there will be a cure for your disability, or you will get over the disability in the next three years, at which point, you would be able to get a regular full-time job.

Can you qualify w/o your disability income reported?

Answer 3

I know that when my husband and I bought our house that we had to have all kind of stuff, but nothing like that. That would be like them asking your husbands boss to write a letter saying that he will still be working there in 3 years. It seems a little silly, but I am sure with all of this c**p going on with the economy they are just trying to cover their butts. I don't understand why it would not be acceptable to get a letter from social security as they are a government agency and it seems that their word would be better than you doctors. Would it be possible for you doctor to write a similar letter stating that you would continue to receive disability as long as your condition or whatever did not improve or give his opinion on what your state would be in 3 years. This way he would not be giving a promise....just his medical opinion. I think that those 2 things together should be suffice, however you should check all of this with your loan officer first. Best of luck to you....hope everything works out!

Answer 4

I see your doctors point but could you get something from him stating his opinion on how long this will last.  It would be "weasel worded" but something like "Based on review of similar cases I believe this condition will last on an average x years.", or something like that.  I'm just saying get whatever you can and maybe that;ll be good enough for the bank.  If its just the doctors professional opinion (ie best guess) then there is really no liability to him, so maybe he'll be ok with providing this.