Today i will share with you how to papertrail gift funds. Gift funds are allowed in many transactions, however they are a delicate thing to track and source. Don't worry because I Teresa Tims, TheSoCalLoanPro.com am an expert and gift funds. There are a couple of things you need, first you have to identify the family member or friend who is going to give the gift funds. We also need to prove that the family member can afford to give you the money, so we will need to see her bank account statement. Then we will get a gift letter executed by donor and the borrower. At closing Aunt Sally will depost the gift directly into escrow. Lastly you will have to ask Aunt Sally for proof that she took her gift to escrow it can be an account snapshot, wire confirmation, or copy of the cashiers check....
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