Does anyone know of a link where I can get the actual law that states my child will recieve child support unitl 18? I am having a lot of trouble trying to find it online. I don't know if I am just not searching for the right thing or what. I am trying to get a loan for a house, and my lender says they need proof that my son will receive child support until age 18 and it doesn't mention anything like that in my child support order.
TIA
Eva
Do you have a court order that awards you child support? If you do, you can tell the bank the court order is in effect until further notice.
I do have an order...but the bank want's something that specifically says 'child will be intitled to support until xxxx date.' If it is on a site somewhere, I haven't found it yet. I am in MD, and I don't think my library will have PA law books.
Thanks,
Eva
No order is ever written that way, and for good reason, as custody goes. I have never heard of having to prove future income.
Have you looked at some of the info on this site?
If they are trying to give you a loan for a house based on child support as income then you probably can't afford that house. Find something cheaper & well within your budget. Custody & child support are never guaranteed. You certainly don't want to end up like our poster madmom.
KAT
I am a little insulted that you would think that I would use child support as my income for a house. Have you ever bought a house? They check into every source of income you get. Even if I was making $0.50 a year on a stock, they would want to know about it. And who is the poster madmom?
I have, but I haven't found anything that could pass as 'official'. The company I am working with to get the loan agrees that this should be unecessary, but the lender is asking for it.
The banks docs will only ask for verification of income if you are using CS to qualify for a loan. You are not required to divulge alimony or CS if you are not using to qualify for the loan.
:(
BTW, I answered you at the bottom, but now I'm going to remove it. Yes, I have purchased MANY, MANY homes starting at the age of 20. I currently own TWO plus LAND. This is our 3rd remodel & we are just starting our second build. NEVER was I asked to document child support as I NEVER used it to determine what I COULD AFFORD. YOU put it down on the application or else how would they know? DOOH!!!
If they are asking for every 50 cents you are in way over your head. Your primary mtg should never equal any more then 2 weeks salary for only one of the buyers and that is for an intact family. You should also have at least 6 months worth payments in a savings account.
KAT
You never know if he's going to get laid off. Your child support court papers should be sufficient.
Madmom started the thread "Can he modify support?". You should read it.