Legal Question in Real Estate Law in Georgia

no income verification loan

I am purchasing a new home using a no income verification loan, the mortgage company is now requiring me to sign a gift affidavit to show where my closing cost is comming from. However the money is not a gift from anyone. What should I do? What are my other options besides a gift affidavit to show where the money comes from? With a no income verification loan why do I need to show where the money comes from?


Asked on 7/24/06, 10:18 am

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: no income verification loan

Simple - Do not sign a document that is inaccurate. If they insist you do so, you need to find another lender or broker. We can't guess what other options you have, or why they want the document signed - that is between you and them.

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Answered on 7/24/06, 10:23 am


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