Legal Question in Real Estate Law in Arizona

real estate

i gave a $1000 gift to my daughter and son in law to go toward the down payment on their house. Their mortgage broker is now asking for a copy of my bank statement. I am no a co signer or involved in thier loan in any way. This feels like an invasion of privacy to me. They are telling my daughter that the loan will not be approved unless I provide this information to them, Is this legal?


Asked on 5/22/09, 2:21 pm

1 Answer from Attorneys
Donald Scher Donald T. Scher & Associates, P.C.

Re: real estate

Lenders can ask for verification, but that does not mean that you have to give them a copy of your bank statement. You could do so, blacking out all information that you do not want anyone to have or see, yet verifying your gift. You might also give a letter to the lender verifying the gift.

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Answered on 5/22/09, 2:57 pm


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