9/29/2016

Organic Rose Demonstration This Weekend Family Fun

Saturday and Sunday October 1st and 2nd 2016
Orange County Fairgrounds
 88 Fair Dr, Costa Mesa, CA 92626
Orange County California Family FUN

10:00 - 7:00 PM

I am doing demonstrations of organic rose growing
Saturday at 2:00 and Sunday at 3:00

HOW TO Clone or propagate roses organically
Additional tips and tricks on growing roses without chemicals.

Live demonstration 
Children can participate if they can use sharp cutters.
Go home with your own tiny green house cutting





9/26/2016

Gift funds


Dinner Bell Winner Winner Chicken Dinner
When will they be wiring the funds? This cannot happen the day of closing.

Does not permit gifts to be given the day of closing.  All gifts and the respective required documentation to be received prior to closing.

Below are gift guidelines for FHA and conventional.

FHA
(3) Required Documentation The Mortgagee must obtain a gift letter signed and dated by the donor and Borrower that includes the following:
·         the donor’s name, address, and telephone number;
·         the donor’s relationship to the Borrower;
·         the dollar amount of the gift; and
·         a statement that no repayment is required.
Documenting the Transfer of Gifts
The Mortgagee must verify and document the transfer of gift funds from the donor to the Borrower in accordance with the requirements below.
·         a. If the gift funds have been verified in the Borrower’s account, obtain the donor’s bank statement showing the withdrawal and evidence of the deposit into the Borrower’s account.
b. If the gift funds are not verified in the Borrower’s account, obtain the certified check or money order or cashier’s check or wire transfer or other official check, and a bank statement showing the withdrawal from the donor’s account.
If the gift funds are paid directly to the settlement agent, the Mortgagee must verify that the settlement agent received the funds from the donor for the amount of the gift, and that the funds were from an acceptable source.
If the gift funds are being borrowed by the donor and documentation from the bank or other savings account is not available, the Mortgagee must have the donor provide written evidence that the funds were borrowed from an acceptable source, not from a party to the transaction.
The Mortgagee and its Affiliates are prohibited from providing the loan of gift funds to the donor unless the terms of the loan are equivalent to those available to the general public.
Regardless of when gift funds are made available to a Borrower, the Mortgagee must be able to make a reasonable determination that the gift funds were not provided by an unacceptable source.
(4) Standards for Gifts of Equity
(a) Who May Provide Gifts of Equity Only Family Members may provide equity credit as a gift on Property being sold to other Family Members.
(b) Required Documentation The Mortgagee must obtain a gift letter signed and dated by the donor and Borrower that includes the following:
·         the donor’s name, address, and telephone number;
·         the donor’s relationship to the Borrower;
·         the dollar amount of the gift; and
·         a statement that no repayment is required.
don't get caught at the last days without trail on gift funds here small catch


sunset at Morro Rock

Uncle Theo gave be a big cash gift

The money came into my account from Heaven
Conventional:
Gift letters 
required for all conventional agency loan programs. In addition, "donor ability" must be verified: The lender must verify that sufficient funds to cover the gift are either in the donor’s account or have been transferred to the borrower’s account. Acceptable documentation includes the following:
- a copy of the donor’s check and the borrower’s deposit slip,
- a copy of the donor’s withdrawal slip and the borrower’s deposit slip,
- a copy of the donor’s check to the closing agent, or
- a settlement statement showing receipt of the donor’s check.
When the funds are not transferred prior to settlement, the lender must document that the donor gave the closing agent the gift funds in the form of a certified check, a cashier’s check, or other official check.  (Note: documentation is the same regardless whether the gift was already on deposit at time of application or not.)


What are the requirements for gift fund’s when the donor wires direct to escrow? Based on FHA and conforming conventional loans is the copy of the wire showing where it came from enough along with gift letter.

Cash is not okay, anything over $500 is a Patriot Act Violation