real estate: What Do You Mean My Down Payment Doesn't Work. - 09/29/10 06:07 AM
Too many times, the down payment is getting questioned by the lenders.  Just remember that the paper reduction act does not apply to the mortgage business.  So if you want to avoid red flags that will send your deal to a nightmare world, make sure you look at these important steps:
1. All deposits need to be accounted for.  Yes, all of them.  I have heard a few stories of deals being held up for 75 dollar deposits that had no paper trail.
2. The accounts that the deposits came from will probably need to be verified.  For example, if you … (1 comments)

 
David Prulhiere (Redwood Financial Services)

David Prulhiere

Grants Pass, OR

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Redwood Financial Services

Address: 1454 NW 6th Street, Grants Pass, OR, 97526

Office: (541) 471-1900

Mobile: (541) 218-5778

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