Action Plan Supporting Documentation

[pineapple76]

Good Evening,

I had my virtual intake today. I was surprised at how smooth it went. Currently, I am working on the Action Plan and have a couple of clarification questions.

(1) Bank Statements: Provide a letter of explanation for each Bank Statement addressing any Non-Payroll deposits and attach supporting documentation to verify the source of the funds.

Question: My co-borrower writes me checks for their part of the rent and utilities. Do I need to print out a copy of the check that was posted in my online checking account? Or will itemizing this on my Letter of Explanation be enough?

(2) Rental Verification: Must continue to provide a copy of the cancelled checks.

Question: My bank statement shows the amount paid for rent by check (it shows the check number) which is over $1,035 monthly. It’s the only item that I have checks written against my account for in such a large amount every month. I don’t have a carbon copy checkbook, it’s the single copy.

Do I need to print out the posted checks by the bank from my online checking account? Or will my bank statements showing just the check numbers be enough?

[Author]

Posts