My Husband Worked a Side Job-NEED ADVICE - Loan Modification Forum

Amy3265 · 09-28-2009, 03:33 PM

We just made the 2nd trial payment in the HAMP. I completely forgot about my husband's side job that he worked at the beginning of the year. He reminded me today. I pulled his old check stub and he had made about 6k (before taxes). I completely forgot about it because we used it to pay off some debt that we had. Now I am scared. Is this fraud??? Should I tell our Loss Mitigation person???? Will this get us kicked out of the program...should I leave it and say nothing??? We are soooo close and I feel so dumb. Please advise!!!

Evan Bedard · 09-28-2009, 03:40 PM

Hi amy3265,

Quote:

We just made the 2nd trial payment in the HAMP. I completely forgot about my husband's side job that he worked at the beginning of the year. He reminded me today. I pulled his old check stub and he had made about 6k (before taxes). I completely forgot about it because we used it to pay off some debt that we had. Now I am scared. Is this fraud??? Should I tell our Loss Mitigation person???? Will this get us kicked out of the program...should I leave it and say nothing??? We are soooo close and I feel so dumb. Please advise!!!

If your husband is no longer working the side job then there is no reason to disclose that information to them...

Amy3265 · 09-28-2009, 05:06 PM

Do they audit us for 2009? Will they dig that far? I'm just afraid this would be considered fraud. I'm also afraid that if I say anything they will kick us out. Any ideas on if they audit 2009/look at where he worked this year. 6K is alot to not say anything about. Don't want to commit fraud. Advice please

Evan Bedard · 09-28-2009, 06:02 PM

Quote:

Do they audit us for 2009? Will they dig that far? I'm just afraid this would be considered fraud. I'm also afraid that if I say anything they will kick us out. Any ideas on if they audit 2009/look at where he worked this year. 6K is alot to not say anything about. Don't want to commit fraud. Advice please

They are only going to review 2008 tax returns and possibly 2007. This should not have an affect on the modification..

Amy3265 · 09-28-2009, 06:07 PM

OH THANK GOODNESS!!! Thanks for getting back to me. I feel like I am afraid of my own shadow lately. I even reposted my question again. I just remember the loss mitigation lady telling me that everyone applying will be audited to make sure everything is correct. When my husband reminded me today of the side job I thought i was going to have a heart attack! I just feel so on edge all the time. I can't imagine going this far and failing because of an oversight on my part. I know they will find any reason to disqualify us but I don't want to tick the govt off by comminting fraud...This is all just very scarry.

Hopefull2009 · 09-28-2009, 06:14 PM

I don't see how it could be fraud. He wasn't working the job when you submitted your paystubs and HAMP documentation, right? They were looking for current gross income and that's what your trial payment is based on. If he didn't have the income when you applied, it couldn't possibly be fraud.

art4ari · 09-28-2009, 09:48 PM

Hi Amy, there is another post asking the same question. I also heard about the possibility of an audit from the IRS, not from the bank.

Did they tell you the bank will audit? can they do that? Once a mod is in force and signed, what are they going to do? start a foreclosure for over/understating an income?

I am suspecting a scare tactic from the bank...

litehouse01 · 09-28-2009, 10:03 PM

I never heard anything about an IRS Audit....the only thing I heard is that they (the bank) would go over taxes... your assets...Taxes have a way of telling your story..it shows your address(since they are so worried we live in the homes we are trying to modify) it confirms income, it shows any assets we have ie: savings rental property income interest on savings etc its like a road map for them to know we are telling the truth in the documents we provided...

art4ari · 09-28-2009, 10:24 PM

so when the bank told amy about the audit, do you think is just the audit pertaining the verification of docs for modification purposes only? I am assumig the same.

davephx · 09-28-2009, 10:33 PM

The word audit should be verification. They are looking for current income and often ask for last 3 pay stubs for those employed. If self employment they ask you to verify either latest quarter or year-to-date. At least under the HAMP rules.

I would not worry about it.

09-28-2009, 03:33 PM	#1 (permalink)
Amy3265 Senior Member Join Date: Sep 2009 Posts: 37 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	My Husband Worked a Side Job-NEED ADVICE We just made the 2nd trial payment in the HAMP. I completely forgot about my husband's side job that he worked at the beginning of the year. He reminded me today. I pulled his old check stub and he had made about 6k (before taxes). I completely forgot about it because we used it to pay off some debt that we had. Now I am scared. Is this fraud??? Should I tell our Loss Mitigation person???? Will this get us kicked out of the program...should I leave it and say nothing??? We are soooo close and I feel so dumb. Please advise!!!

09-28-2009, 05:06 PM	#3 (permalink)
Amy3265 Senior Member Join Date: Sep 2009 Posts: 37 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: My Husband Worked a Side Job-NEED ADVICE Do they audit us for 2009? Will they dig that far? I'm just afraid this would be considered fraud. I'm also afraid that if I say anything they will kick us out. Any ideas on if they audit 2009/look at where he worked this year. 6K is alot to not say anything about. Don't want to commit fraud. Advice please

09-28-2009, 06:07 PM	#5 (permalink)
Amy3265 Senior Member Join Date: Sep 2009 Posts: 37 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: My Husband Worked a Side Job-NEED ADVICE OH THANK GOODNESS!!! Thanks for getting back to me. I feel like I am afraid of my own shadow lately. I even reposted my question again. I just remember the loss mitigation lady telling me that everyone applying will be audited to make sure everything is correct. When my husband reminded me today of the side job I thought i was going to have a heart attack! I just feel so on edge all the time. I can't imagine going this far and failing because of an oversight on my part. I know they will find any reason to disqualify us but I don't want to tick the govt off by comminting fraud...This is all just very scarry.

09-28-2009, 06:14 PM	#6 (permalink)
Hopefull2009 Senior Member Join Date: Feb 2009 Posts: 246 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: My Husband Worked a Side Job-NEED ADVICE I don't see how it could be fraud. He wasn't working the job when you submitted your paystubs and HAMP documentation, right? They were looking for current gross income and that's what your trial payment is based on. If he didn't have the income when you applied, it couldn't possibly be fraud.

09-28-2009, 09:48 PM	#7 (permalink)
art4ari Senior Member Join Date: Aug 2009 Posts: 206 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: My Husband Worked a Side Job-NEED ADVICE Hi Amy, there is another post asking the same question. I also heard about the possibility of an audit from the IRS, not from the bank. Did they tell you the bank will audit? can they do that? Once a mod is in force and signed, what are they going to do? start a foreclosure for over/understating an income? I am suspecting a scare tactic from the bank...

09-28-2009, 10:03 PM	#8 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 492 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: My Husband Worked a Side Job-NEED ADVICE I never heard anything about an IRS Audit....the only thing I heard is that they (the bank) would go over taxes... your assets...Taxes have a way of telling your story..it shows your address(since they are so worried we live in the homes we are trying to modify) it confirms income, it shows any assets we have ie: savings rental property income interest on savings etc its like a road map for them to know we are telling the truth in the documents we provided...

09-28-2009, 10:24 PM	#9 (permalink)
art4ari Senior Member Join Date: Aug 2009 Posts: 206 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: My Husband Worked a Side Job-NEED ADVICE so when the bank told amy about the audit, do you think is just the audit pertaining the verification of docs for modification purposes only? I am assumig the same.

09-28-2009, 10:33 PM	#10 (permalink)
davephx Senior Member Join Date: Jul 2009 Posts: 1,143 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: My Husband Worked a Side Job-NEED ADVICE The word audit should be verification. They are looking for current income and often ask for last 3 pay stubs for those employed. If self employment they ask you to verify either latest quarter or year-to-date. At least under the HAMP rules. I would not worry about it.

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