Mortgage qualifying rules get creative

What if you don’t have quite enough income to support your mortgage application loan request? But you own other properties with equity. No problem!
One investor now allows mortgage loan originators to calculate the equity from your other properties and divide the equity by 84 months and call it income.
For example, you have $300,000 of equity between your second home and a rental. Divide $300,000 by 84 months equals $3,571 and call it additional income.
Wow! Recognized income without payin