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Documenting
Your Assets - Verifying Your Down Payment
Employers
Some companies provide down payment
assistance for their employees. They may feel that homeowners are more
stable and reliable employees, or that providing down payment
assistance fosters an environment of higher morale and loyalty to the
firm. Just make copies of all the paperwork, including a copy of the
check and the receipt when you deposit the funds into your personal
bank account. It is important that these funds do not require
repayment.
Savings
Bonds
If you have Savings Bonds, they are a
financial asset, too. Since you hold the actual bonds in your
possession, the easiest and best way to verify them for your mortgage
lender is to make photocopies of them. If you choose to cash
them in for down payment or closing costs, you should do this at your
local bank. Be sure to keep copies of the paperwork the bank
provides because that will establish the current value of the bonds
and show that you received their cash value.
copyright 2006 by Terry
Light and RealEstate ABC
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