venkannadora Posted May 31, 2023 Report Share Posted May 31, 2023 Friend mortgage down payment ki help aduguthunnadu. He is collecting money from multiple friends around 80k and asking my help to use my bank account to collect that money and wire transfer that money to the title company during closing. Is it legal doing? Any issues with IRS regarding audio and any taxes to pay.? Evaraina ila chesi unte koncham info share cheyyandi vayya plz. I want to help him but want to make sure no issues with it. Quote Link to comment Share on other sites More sharing options...
Popular Post Guest Posted May 31, 2023 Popular Post Report Share Posted May 31, 2023 Nothing illegal about it. Just make sure that he pays on time. Some cases lo lender will ask about the deposit source, gift ani letter raayinchukuni close chestharu..anyway your will deal with that. 80 k collecting ante you need to think how long it takes for him to repay, that’s the only thing you need to think about 3 Quote Link to comment Share on other sites More sharing options...
venkannadora Posted May 31, 2023 Author Report Share Posted May 31, 2023 3 minutes ago, Guest said: Nothing illegal about it. Just make sure that he pays on time. Some cases lo lender will ask about the deposit source, gift ani letter raayinchukuni close chestharu..anyway your will deal with that. 80 k collecting ante you need to think how long it takes for him to repay, that’s the thing you need to think about Avunu bro kani adhi thana head ache. Nenu middle man mathrame. Money collect chesi thana account lo veyyadam anthe Quote Link to comment Share on other sites More sharing options...
Pencil_Rubber Posted May 31, 2023 Report Share Posted May 31, 2023 As far as I know, you will be under scrutiny when you received funds from different accounts.... 80k koncham big amount ee.... you may get query from IRS for this amount. Koncham careful bro .... your intension to help your friend is good but you be careful Quote Link to comment Share on other sites More sharing options...
KothaKurrodu Posted May 31, 2023 Report Share Posted May 31, 2023 Bulk amount transfer cheskovacha friends account nundi like 50k or 100k Quote Link to comment Share on other sites More sharing options...
manchulomajjiga Posted May 31, 2023 Report Share Posted May 31, 2023 20 minutes ago, venkannadora said: Friend mortgage down payment ki help aduguthunnadu. He is collecting money from multiple friends around 80k and asking my help to use my bank account to collect that money and wire transfer that money to the title company during closing. Is it legal doing? Any issues with IRS regarding audio and any taxes to pay.? Evaraina ila chesi unte koncham info share cheyyandi vayya plz. I want to help him but want to make sure no issues with it. Home prices falling anta ippudu avesam avasarama 😂😂😂 1 Quote Link to comment Share on other sites More sharing options...
Genuine11 Posted May 31, 2023 Report Share Posted May 31, 2023 6 minutes ago, KothaKurrodu said: Bulk amount transfer cheskovacha friends account nundi like 50k or 100k you can transfer any amount as long as the money earned is legal Quote Link to comment Share on other sites More sharing options...
Point Posted May 31, 2023 Report Share Posted May 31, 2023 33 minutes ago, venkannadora said: Friend mortgage down payment ki help aduguthunnadu. He is collecting money from multiple friends around 80k and asking my help to use my bank account to collect that money and wire transfer that money to the title company during closing. Is it legal doing? Any issues with IRS regarding audio and any taxes to pay.? Evaraina ila chesi unte koncham info share cheyyandi vayya plz. I want to help him but want to make sure no issues with it. Lite teesko Quote Link to comment Share on other sites More sharing options...
ARYA Posted May 31, 2023 Report Share Posted May 31, 2023 Arehooo.. Quote Link to comment Share on other sites More sharing options...
Guest Posted May 31, 2023 Report Share Posted May 31, 2023 26 minutes ago, venkannadora said: Avunu bro kani adhi thana head ache. Nenu middle man mathrame. Money collect chesi thana account lo veyyadam anthe You can help him if you want to but as I said nothing illegal about it. Nenu kuda icha ila Quote Link to comment Share on other sites More sharing options...
sarvayogi Posted May 31, 2023 Report Share Posted May 31, 2023 just 1 month touch lo undaku ante...ee friend gaadi icchi aadu malla hand icchi malla nuvvu DB lo post lu enduku just tell money transactions oddu mama relations padaitai meerem pedda modi shah em kaadu ga...lite teesko Quote Link to comment Share on other sites More sharing options...
FrustratedVuncle Posted May 31, 2023 Report Share Posted May 31, 2023 51 minutes ago, venkannadora said: Friend mortgage down payment ki help aduguthunnadu. He is collecting money from multiple friends around 80k and asking my help to use my bank account to collect that money and wire transfer that money to the title company during closing. Is it legal doing? Any issues with IRS regarding audio and any taxes to pay.? Evaraina ila chesi unte koncham info share cheyyandi vayya plz. I want to help him but want to make sure no issues with it. If you trust your friend help. nothing illegal about it. Investment properties konetapudu chala mandi chestaru Quote Link to comment Share on other sites More sharing options...
Spartan Posted May 31, 2023 Report Share Posted May 31, 2023 anna nuvvu illu konnava ? Quote Link to comment Share on other sites More sharing options...
Gorantlamdhav Posted May 31, 2023 Report Share Posted May 31, 2023 1 hour ago, venkannadora said: Friend mortgage down payment ki help aduguthunnadu. He is collecting money from multiple friends around 80k and asking my help to use my bank account to collect that money and wire transfer that money to the title company during closing. Is it legal doing? Any issues with IRS regarding audio and any taxes to pay.? Evaraina ila chesi unte koncham info share cheyyandi vayya plz. I want to help him but want to make sure no issues with it. Chesey evadu em peekaledu , cash kakunda everything online chey. Evadanna future lo adugutey chupetochu neeku paisa kuda labam ledu dantlo ani Quote Link to comment Share on other sites More sharing options...
sendral_nakka Posted May 31, 2023 Report Share Posted May 31, 2023 1 hour ago, venkannadora said: Friend mortgage down payment ki help aduguthunnadu. He is collecting money from multiple friends around 80k and asking my help to use my bank account to collect that money and wire transfer that money to the title company during closing. Is it legal doing? Any issues with IRS regarding audio and any taxes to pay.? Evaraina ila chesi unte koncham info share cheyyandi vayya plz. I want to help him but want to make sure no issues with it. Sorry to say, this is a shady deal and plan to avoid. Firstly, never buy a home with borrowed money and do not lie on mortgage application. Its a federal crime. Secondly, the mortgage company will ask you for source of funds and both you and his borrower need to show proof of income and source of funds. A gift amount can be shown for Primary home only, you cannot borrow a single penny for investment home. If I were you, I would look at his mortgage application and make sure everything's spelled out correctly or stay away. Quote Link to comment Share on other sites More sharing options...
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