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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.
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 2000 by Terry Light and
RealEstate ABC
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