Posted on: 21st Apr, 2009 03:29 pm
I HAVE BEEN APPROVED FOR THE LOAN BUT NOW THE BANK IS ASKING WHERE I GOT CERTAIN AMOUNTS OF MONEY THAT I DEPOSITED. IS THIS SO THAT THEY CAN VERIFY THAT I DO NOT OWE ANY BODY THAT MONEY BACK?
yes, they have to know the money was not borrowed. you should also know you may be asked to document where the funds came from.
Hi KIMF,
You are right. They want to verify that you have not borrowed the money and do not owe anyone that amount of money. You may have to produce documents showing the source of the deposited money. If you have got the money from any of your close relatives, you may have to submit a Mortgage Gift letter.
You are right. They want to verify that you have not borrowed the money and do not owe anyone that amount of money. You may have to produce documents showing the source of the deposited money. If you have got the money from any of your close relatives, you may have to submit a Mortgage Gift letter.