No Large Cash Deposits
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- Опубліковано 11 жов 2024
- Frank Monetti, Branch Manager at Advisors Mortgage Group Freehold, talks about why you should not deposit large sums of money into your bank account without a proper paper trail when you are applying for a mortgage. Mortgage companies are on strict guidance from the federal government in regards to money laundering, so when they see large cash sums deposited into someone's back account, it raises a red flag. If a friend or family member is giving you money towards your down payment, talk to Frank beforehand and he can have you complete the appropriate paperwork so it is all documented. Frank and his team will provide a smooth loan process from application through closing. Call Frank at 908-513-1202 or visit his website at advisorsmortga... to learn more.
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It's a sad day that we are living in that we are made to feel afraid to use our own money when and how we choose.
BRANDON,,,
more things to screw over everyday people who bust the butts to make ends meet then government comes in and criminalizes it.
Rules don’t apply to the politicians who created these rules.
Land of the free MY ASS🤬
One word: Control
It means the government feels the need to stick their nose and all of our business from how we get our money to how we pay for our homes
Its a control thing..its not the banks. The Government
And here i am thinking i can buy a house for 200k in cash because i saved it😂😂😂
Can I borrow 1k 😊
@@turtleneckgang3338yes..but you can’t use it 😂
If you buy it directly from the seller, you can buy it in cash. Only the seller might care.
However, the moment you need to borrow a cent from a lender.. you're screwed.
I made a small cash deposit and was asked for ID. The teller at the Bank of America said a customer is required to show ID even with a $1.00 cash deposit!!! I was shocked and she basically agreed with my sentiment. I guess everyone is suspicious of wrongdoing even when there are clearly people who are law abiding citizens. It is disgusting.
Does depositing money from PayPal account to bank account count as large “cash” deposits?
We should be our own banks.
So if people have true, legit mattress money how do they get it in the bank then?
That's the neat part. You don't.
One dollar at a time
He's just trying to scare you, lol.
Nothing happens even if you deposit $1M cash in your account, as long as you don't want to open a new account and you've been working with that bank for a while.
i remember when I was a mortgage broker in the 80's
there was an "unwritten role to let Hispanics sourse mattress money as OK!
i have zero desire to work because of this.
So what if I deposited, over 20k and it was online now my bank account is inaccessible.. will they end up returning the original check to the owner and I will get my cashiers check with what I had left in my checking? Most likely will have to build trust again or change banks .. what’s the options ?? Until I get my letter .. I’ve learned that they might’ve turned it into a federal case ? What do I do from here if the check isn’t mine?
I have about 50k cash, how do I get it into my account?
Okay, well, what about this? I have been saving for years of spare cash, and it's just about 5 to 6 thounds. How do I deposit that money into my bank without feeling like it's illegal? Or look wrong
Don't deposit it
Just keep it as cash trust me
Make small deposits every month
Perfect do you have a private conversation space?
I like this
Very Good!... #5 ✝ {12-10-2022}
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