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Lender required homebuyer’s parent to prove down payment contribution was gifted rather than loaned

Q: When I gave my son some money to buy a house, I had to submit a letter to his lender stating that the money I gave him was a gift and not a loan. Why did the lender require that?

A: As housing has become more expensive and the newer generations need a larger amount of money for a down payment, homebuyers often seek financial assistance from ...Read more

Could neighbor dispute lead to lawsuit?

Q: I came across one of your articles discussing a fence problem where a neighbor was unhappy about his side of the fence being dirty. You suggested maybe he just clean it, even if his neighbor built the fence entirely on the neighbor’s property. We think that if he cleans it and damages the fence, he could get sued. Just a thought.

A: The ...Read more

 

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