wondering about anyones opinions or knowledge about making a loan from your downpayment fund temporarily.
Im saving money regularly for my down payment currently. I hope to buy a house by the end of the year. My Mom in NY is in a financial pit at the moment with not enough income to cover her liabilities, and some debts are starting to become deliquent. I wish i could just GIVE her some money, but with saving for a house, im just getting by comfortably myself. She is waiting to hear back from her lawyer about a settlement. I know dates of settlements are not always guaranteed, but if i feel there is enough cushion in the time it takes to be repaid back my potential loan to her from my savings, then i would like to help my mother the best i can.
My hesitation comes from the fact that lets say, i lend her $ 2000 directly taken from the savings to catch up on some debts… when it comes to her repaying me the funds and i go to deposit that back, will a loan officer give me grief over being repaid a short term loan i gave a family member. What is the best way to go about this without being given an issue of where money i had originally already saved, has just reappeared from? Or at least the easiest way?
Thanks for any input!!!