Lilly, Home Buyer in Yonkers, NY

gift letter for home purchase

Asked by Lilly, Yonkers, NY Thu Aug 4, 2011

A fam member gave me $ for down payment. Unfortunately, he died 2 weeks following down payment was cashed by seller's attorney. Now, 2 banks so far refuse to give us home loan bc gift letter submitted is general and doesn't stipulate it was "for home." We submitted death cert, not good enough. Is there any bank that would understand my situation and accept the gift letter we have bc i cant go to heaven and get a new letter :(

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Shane Milne, Mortgage Broker Or Lender, South Jordan, UT
Thu Aug 4, 2011
Sorry to hear about your family member passing away - is their estate in order/are their heirs legally able to write the gift letter with the specific address on it? It is standard to need the gift letter with the specific address on it - usually we have our clients/the gift donor sign a blank one at the beginning and then we get the address listed on it afterwards, kind of a "fill in the blank" letter.

Shane Milne | Loan Officer in Orange County, CA | NMLS #81195
Direct local #'s: 949-273-4161 or 646-257-4842
Lending in all 50 states, all types of mortgages
1 vote
Anna M Brocco, Agent, Williston Park, NY
Fri Aug 5, 2011
Have you considered asking your attorney for recommendations....
0 votes
Robert Grana…, Agent, Bronxville, NY
Fri Aug 5, 2011
Try Gail Cahaney of Thoroughbred Mortgage, she has helped many people with mortgages under special situations.

Bob Granata
Gail Cahaney
Mortgage Consultant
Thoroughbred Mortgage, LLC
An Affiliate Of Wells Fargo Home Mortgage
800 Westchester Ave. Ste S432
Rye Brook, NY 10573
914-249-7613 Tel
914-274-2808 Fax
914-441-3997 Cell
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