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What is a stated income refinance?

income Refinance
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What is a stated income refinance?

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I agree with Justin. Stated never meant you could not prove it, it meant that you didn’t have to prove it because of your entire credit profile. People like Earnie, who used it to get people loans with incomes that “cannot be substantiated with any verifiable paper”, is an example of the abuse that went on and the exact reason that this program went away.

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