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Old 08-06-2013, 10:44 AM
 
3 posts, read 4,054 times
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Please help!! My fiancé is supposed to be closing on Friday, although it seems as though that will not happen. The lender wants proof that I live with him?? Why, and what does that have to do with his loan? They also wanted proof we are engaged, I am not on the loan, have not had anything to do with the loan other than putting money for the down payment into his account. I did have to submit a gift letter and bank statements but that is it. This process has gone on since the last 2 weeks of May, and we are at our wits end!
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Old 08-06-2013, 11:02 AM
 
3,806 posts, read 8,255,102 times
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Money Laundering and fraud are serious offenses. Gift Funds can only come from a family member, in most cases. The lender is doing what they can to HELP you with your purchase. They are not asking for too much. They could say "those funds are dis-qualified until you furnish proof of marriage, etc," but they are not.

Do what they ask. And stop freaking out.
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Old 08-06-2013, 11:24 AM
 
Location: Bloomington IN
7,224 posts, read 8,858,064 times
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I had a client that also had to prove she was engaged. I don't recall why the lender required it. I think it was because he supplied a portion of the down payment, as did you. She was purchasing the home alone. She simply published a quick, cheap engagement announcement in classifieds of the local paper. It was enough.
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Old 08-06-2013, 11:33 AM
 
Location: The Triad (NC)
31,168 posts, read 68,009,621 times
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Quote:
Originally Posted by mtaft View Post
I am not on the loan, have not had anything to do with the loan
other than putting money for the down payment into his account
.
There ya go.
If his parents had put the money into the account they would be looking in that direction.
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Old 08-06-2013, 11:36 AM
 
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We gave them a letter explaining our engagement, but they want proof we live together by documentation. I can't supply what they want. I just had our son and we are staying with his best friend waiting for the loan to close. so, we don't have utilities, etc..
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Old 08-06-2013, 11:50 AM
 
Location: Powell, Oh
1,846 posts, read 4,283,603 times
Reputation: 1074
Do you have anything with the address? Maybe car insurance?

Contact them and ask what to do, rather than guess.

I like the other persons advice of putting in an announcement in the local paper.
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Old 08-06-2013, 12:24 PM
 
936 posts, read 1,949,091 times
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I forgot the correct legal term (homestead?), but many states have rules that give certain rights to occupants of houses. That could mess up any potential foreclosure action that the lender may initiate in the future. Hence, they need to know who is involved in the transaction, financially and occupancy wise, so that they have the correct signatures on the forms.
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Old 08-06-2013, 12:26 PM
 
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brianjb - Thank you! Our LI policies. Called the processor and that might be ok. Still trying for a Fri/Monday closing. This entire process has been a nightmare!
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Old 08-06-2013, 12:30 PM
 
3,806 posts, read 8,255,102 times
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Do you have a marriage license yet? Why not swing by the courthouse and just make it official?

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Old 08-06-2013, 12:44 PM
 
Location: Powell, Oh
1,846 posts, read 4,283,603 times
Reputation: 1074
Quote:
Originally Posted by mtaft View Post
brianjb - Thank you! Our LI policies. Called the processor and that might be ok. Still trying for a Fri/Monday closing. This entire process has been a nightmare!
You're welcome!
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