I bought a cb400f back from a neighbor because he wanted to buy a house. My wife is his realtor. The bank requires you to document the source of any cash down payment. Since I'm related to his realtor he wasn't allowed to use the money as a down payment. They were just sure it was some sort of a scam.
We presented copies of title, registration and insurance to prove he owned it. I was forced to sign the title ( I intended to re-sell and didn't title it) to prove I bought it and they still said no. He also had $850 he saved at home and they didn't let him use it either. His mom had to give him the money and write a gift letter, this afternoon she is putting his money back in her account. She had to take a statement from the bank to prove she had the money already.
Another home buyer had cash saved in his gun safe and he had to deposit his paycheck every week for two months to get the money allowed. These guys are jumping through hoops, it doesn't prove anything to deposit the same money to make it legit.
Anyway the moral is if you have cash for a down payment start filtering it into a savings account now so you will be allowed to use it. The underwriters are making us pay for the big banks bad deeds 7-8 years ago.
