1933 All Over Again

[momo]

LMAO

When looking at buying houses, the mortgage broker questioned why I only had a certain amount of money in my bank accounts, as I needed at least 6 months worth of pay for two house notes and assorted bills. I informed him if I needed more money in the account, I could have it there by that afternoon.

Apparently you have to have the money in a bank account for 3 months holding steady. It baffled him when I stated I store the majority of my money in other locations and assets. He couldn't grasp the concept why ANYONE wouldn't trust a bank.

yea, i went through a similar process a few months ago. they force you to have a paper trail. large deposits have to have a detailed explanation with proof.

clown: you deposited 10K cash 2 months before you applied for this loan. where did it come from?
me: some from a safe. some from a mattress.
clown: we can't use this money in the loan if it was a cash deposit.
me: then there is no loan.

[FATHERFORD]

yea, i went through a similar process a few months ago. they force you to have a paper trail. large deposits have to have a detailed explanation with proof.

clown: you deposited 10K cash 2 months before you applied for this loan. where did it come from?
me: some from a safe. some from a mattress.
clown: we can't use this money in the loan if it was a cash deposit.
me: then there is no loan.

Yep, pretty much exactly what they told me.....

I had enough in the bank so it didn't matter in the long run, but it still baffled me.