Refinance?

[sweetmozart]

Has anyone successfully refinanced their home while on disability and SSDI? We are trying to do that now, and the underwriters are asking for an award letter from the disability insurance company and from SS stating that my husband's disability payments will continue for at least three years.

The best I can find is that the payments will continue as long as he remains "disabled." We get periodic questionnaires from the disability insurance company to confirm that my husband still has ALS, so I find it hard to believe that they will write a letter stating the payments will continue for three years.

Just wondering if anyone here has experience with this. Thanks.

 

[KimT]

The lender is treading on something that might be illegal. They are fishing for life expectancy. You can provide the lender a letter that is generated automatically from Social Security from your online login. This is all they should need along with a few months bank accounts showing the SSDI payment went into your account automatically. As for the disability insurance company, they should be able to generate a letter for you stating the length of time the payments will continue. I know mine will only continue until I reach full retirement age of 66 years and 2 months but your policy should state the length of time they will continue.