Updated 3 months ago on . Most recent reply
Unauthorized Withdrawal from Security Deposit Account
Hi All! I'm panicking and I hope I can get some "calm" from a contributor.
My checking account that houses my Tenant's Deposit was compromised. A family member stole my Wallet and used the Debit Card attached. The Deposit is $1250 and of that, and little over $300 was spent.
It has been re-deposited but its on my Sept statement. My concern is that the Underwriter is going to give me a hard time, because I'm using 75% of the Leased amount to offset my DTI. My hope is that I'm allowed to submit an LOE. Can any Underwriter chime in on this?
Most Popular Reply
#2 Investor Mindset Contributor
- Rental Property Investor
- Durham / Raleigh (Triangle), NC
- 790
- Votes |
- 833
- Posts
#2 Investor Mindset Contributor
- Rental Property Investor
- Durham / Raleigh (Triangle), NC
@Felicia Richardson - Do you keep the security deposit funds in the same account at which you also receive rental payments? I ask because I've done a LOT of refinances, and I can't remember a lender ever asking for the statement(s) of the account(s) where I hold security deposits. They have only ever been interested in the account(s) where rents are received and expenses paid.
- Jonathan Taylor Smith
