Re: Buying a house
Allow me to clarify:
a) By leveraging the mortgage I mean within the confines of your budget; i.e. even if you have a pile of $500,000 cash and intend to buy a similarly priced house, there are advantages to mortgaging it at 10% down versus 50%, or paying cash outright.
b) As far as misrepresenting the source of your income, there is a less than 1% chance the IRS or a bank will verify that an Ecash transaction into your checking account came from online gambling versus whatever you claim. The former frankly doesn't care as long as you pay your tax obligations; the latter cares since it's a credit risk.
It's all moot anyway; right now the spread between doc and no-doc loans is not significant if your credit is high, so there's no need to divulge the above. All I'm trying to say is if you do have verifiable income going back 3 years, as much as you try to legitimize "poker income" the bank likely will not differentiate you from a slot machine player. Go no doc, end of story.
Consult your attorney is always good advice, of course.
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