Hi All - Quick question on my loan mod app.
1) Cash reserves - our bank statements list a higher cash balance than we have available to pay our mortgages. This is due to a security deposit we received from our tenant and funds to pay our property taxes since we don't have an escrow account. Do I just show the lower amount and note the difference between the bank statement balance and what I am reporting?
2) Rental loss - should I just leave this off the app entirely or report as a reduction of income?