Posted on: 14th Nov, 2010 07:57 am
I have a question re: paper trail during a refi - We were required to make current our current mortgage by paying our late fees of almost $1,000. We told our brother-in-law we needed him to pay us for some work that my husband had done for him this past spring. He agreed, and gave us the cash. We deposited it in our account, and paid the fees. Now the Underwriter is requiring a paper trail on this cash deposit. Any suggestions?
I would have your brother in law provide an invoice to show the work that was completed by your husband. Any type of large deposits an underwriter may questions. An invoice or a letter from your brother in law signed and dated would work fine. You can always ask the underwriter what would be acceptable. My thought would go with an invoice. Good luck!