Posted on: 20th Jul, 2009 05:38 pm
it is the norm for the bank information to be disclosed from the giver of a gift letter...I am giving my daughter a gift toward her closing cost. The mortgage company just notified us today that my account would have to be looked at also. I am getting the money from various family members and depositing into my account fot one check
yes, that is the standard procedure now - to verify that a gift donor had the ability to make the gift to begin with. what you describe could really become a pain in the neck for all concerned. if you have the funds you need personally, it would be far easier for you to verify that fact and then let the other funds you obtain from family compensate you for what you've done (if that's a possibility).