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gift letters

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L&R Dollisons Guest	Posted: Fri Aug 06, 2010 3:50 pm    Post subject: gift letters Like 0 Dislike 0 Need to know how a gift letter applies to a home improvement loan... My husband and I along with our four kids live in his moms home . She does not live with us at the present time but knows if the time comes ands she needs to she can. The house is in need of some major repairs ..she can not apply for home improvement loan due to having filed for bankruptcy..we have discussed out right buying it..but that is not an option the moment,,,, if she was to give us the house and land as a gift could we file for a home improvement loan and use it to do the repairs. _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
Niicss Joined: 03 Oct 2005 Posts: 4834 Location: New Jersey 508.88 Dollars($)	Posted: Mon Aug 09, 2010 2:09 am    Post subject: Like 0 Dislike 0 If your mother-in-law has not included the property and land in her bankruptcy filing and if her bankruptcy has been discharged, then she can gift the property to you all. Once the property and the land is in your name, you can take out a home improvement loan. _________________ Good is the Enemy of Great.

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