No Income Verification Loan
January 31st, 2007The key to this type of borrowing lies in equity. In order to qualify for a loan that does not require detailed proof of your earnings you need to have some sort of equity. In most cases you can receive a no income verification loan if you own a home that is partly paid for. The amount of the home, minus the balance of any current mortgages is your equity. Instead of showing that you can make payments on a new loan you put your home up as collateral.
Full article at No Income Verification Loan
