BUYING A NEW HOME BUT DEPOSITED WINNINGS.. NEED YOUR HELP!

OK guys here it is.

In the process of building a home and financial company ask for all docs including 2 mths worth of income among other things... the one thing that is troubling to me is they ask for the past 2 mths of all monies including deposits/withdrawals.

I've been doing well lately and decided to withdrawal 3k from my book and deposit it into one my accounts (at the time unknowing thet needed to see). The 3k is a small % of what I have, but they want to see proof of any large deposits. To me 3k isnt large, but on paper it is.

I see two choices.
A) Be upfront & say its from wagering but if so.. admitting guilt.

B) Wait another mth until the "2 mth" window passes and the 3k deposit doesnt show. Doing so will f8ck my whole buying process up, but if best its what I should do.


You a expert? Give me some advise.

A) Be upfront & say its from wagering but if so.. admitting guilt.

this is the bank you're talking about here, they have zero standards for morals, and collecting winnings from a bet isn't illegal. You might want to make sure you pay taxes on it though. the bank wants to make sure that it's your money and not someone elses (off-book debt).  lying could fuck your deal up, depositing gambling winnings is irrelevant as far as the bank is concerned, it's income. they want to make sure that they know ALL your debts and income, and make sure it's not mommy and daddys money that you are using

i am not an expert at all, just my understanding of the process

i agree with be easy. you aren't doing anything wrong (expect if you don't pay taxes on it). If they ask for deposits just tell them what it is, they could care less. banks want people to borrow so they won't risk losing you

Well, considering the institution from which you deposited/withdrew money from an offshore account is a gambling and under legislation this makes your bank (not you) liable for what pretty much equals wire fraud I would go ahead and say that It is a "broker" and not go into specifics. you might want to also mention that they use a third party for deposits, that way unless it shows up as illegal offshore degenerate gambling online on your statement you are covered.
If they press you say it was on futures contracts that you cashed out when they were in the money because you were not impressed with the service of the broker.

Say you hit some sports bets on vactation..

Not a fib..

You won it playing craps in Vegas or some other casino.......or you have had it at your house for years for an emergency...

Learn a lesson.......do NOT deposit gambling winnings....Geez........rookie move

Are you kidding me????????  You are gambling illegally.....you should never admit that....unreal advice your getting......a bank will care it brings up the possibility that you could lose everything gambling and not be able to repay them.....there are some idiots on here

ok guys thanks for all the advise... no way no how would I admit sh8t.

admitting is guilt. i am playing the calendar game.. they need two months worth of statements and will wait it out until the date of the deposit passes.

WATERHAMMER.. No rookie here, and no mistake. Its not nickles and dimes I win every year, sometimes a few times a year. What the fuck what I do with a few k a year in ca$h?

i could be wrong, but i think they're asking about your transactions because it would serve as proof of earnings and spendings.  its weird, i used to sell mortgages and it never mattered to me what was going in and out of your account, you just had to have collateral.  but a lot has changed since then.

No way

NO HOW - just wait a month or two.

time is much easier, lying is perjury

wise....huge re-legislation about this last month, banks are cracking back down again.

nice avatar hammer!

This guy gave me the under 44.5 on colts game vs baltimore  His name is icover4u talk to him about this...Best of luck witht he new house buddy

Passive icome.

Just make sure your debt to earnings is above 33 %

your credit score is the KEY!

 

income---------------sorry.

Goldjaboy is correct...passive income...say a casino...you went on a trip and won it playing blackjack...winning on tablegames and not on a machine, the casino doesn't tax your winnings and have no track record of you even being there...you say you won it on a slot machine, different story..track record due to being taxed on the "big" win.

Slo~