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Borrower with the source of income being a monthly withdrawal from her IRA. She’s been receiving it for at least 6 to 9 months. It’s been set up through the administrator and she gets $2000/mo. Her balance is approximately 90K in the IRA. Can we use this as her income source when working up the FA?

HPeterson

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Yes, this can be used as income source for HECM. Documentation of one month’s complete IRA statement and document withdrawals must be provided.

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