Gone to underwriting with assurity bank

[jamevfan]

Never heard of this bank but my husband and I have been doing and selling things we dont need to come up with closing cost money because they wont give us a clear to close until we ca show we have the funds in the bank to do so..... welll to make a long story short today we came up with 1,300 cash but have no paper trail for it, does this mean we cant use this money. This is sooooo frustrating. How can I prove that this money is solid? please help, we were going to put it in my husbands savings acct and transfer it to the bank that the mortgage company is tracking but what it they ask for my hubby's bank statement and see we just deposited it today without a papertrail? any avice is appreciated.

[donkort]

I'll tell you one thing: your FICO scores have increased much in a short space of time.  Congrats!

And good luck on your house.  I know how aggravating it is to obtain a mortgage--I'm going through that right now!

[Anonymous]

You had a yard sale to raise funds..  seems pretty straight forward to me.

Deposit it in your bank and if they need documentation, write up a little affidavit that the funds were from the sale of personal property.  That should cover it, i would think. 

[ShanetheMortgageMan]

If you are doing an FHA mortgage, here are the guidelines:

Sale of Personal Property. If the borrower intends to sell personal property items (cars, recreational vehicles, stamps, coins, baseball card collections, etc.) to obtain funds required for closing, the borrower must provide a satisfactory estimate of their worth, in addition to conclusive evidence the items have been sold. The estimated worth of the items being sold may be in the form of published value estimates, such as those issued by automobile dealers, philatelic or numismatic associations, or a separate written appraisal by a qualified appraiser with no financial interest in the loan transaction. Only the lesser of this estimate of value or the actual sales price is considered as assets to close.