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I found a house to buy but can't get a mortgage because Im…

I found a house...

I found a house to buy but can't get a mortgage because Im retired . I have enough money in assets to buy the house outright, but it's a foreclosure and the bank wants the money today. My sister offered to give me the money and I could then pay her back. They are sending an agreement letter today. WILL MY SISTER HAVE to sign for the house in hername?

Lawyer's Assistant: What steps have you taken so far? Have you prepared or filed any paperwork?

No

Lawyer's Assistant: Where is the house located?

Thomasville ga

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I will receive my money by next week

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Answered in 8 minutes by:
3/20/2018
DamienJD
DamienJD, Attorney
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Hello: My name is ***** ***** I am an attorney. Please give me a moment to review your question. I may ask some questions to clarify issues.

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It sounds like your sister is lending you or gifting you personally the money, right? In other words, she is not paying the money directly to the lender, right?

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Customer reply replied 3 months ago
She's lending it to me. The bank that holds the foreclosure said that since she is holding the cash that the house will be in her name. But I need it to be in my name. By the time of closing ill have the money

Your sister gave gift or loan you the money so that you are holding the cash. In other words, just because your sister is lending you the money or giving you the money does not mean that you cannot purchase the home with the money she gives you. You would have the money to pay for the house.

We can discuss this more if you want to do so.

If you have further questions or you need further assistance, just let me know.

If not, please remember to rate my answer between 3 to 5 stars without any additional costs to you. That is how I get credit for answering your question. Best regards.

DamienJD
DamienJD, Attorney
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