Answer:
The gift's credibility such that it has been backed by a letter which has been signed by the donor. This letter on the other hand should also be backed by the bank statements of the donor.
Explanation:
Buying a home is not that easy, unless you have a lot of money to cash out. For most people, they need to find some ways to make the purchase easier and one of these is through a "cash gift." There are actually many guidelines required by lenders before they can allow you to use gift as a down payment for funds. For example, the gift should come from family members or from those a person marries.
For a lender, there are many criteria to consider. One of the most valuable is the credibility of the gift that it will be backed by a letter which has been signed by the donor and the benefactor. <u><em>The lender wants to make sure that it is, indeed, a gift and not a loan.</em></u> <u>The donor's bank statement should also be evident.</u>
The heads of the key governmental departments are collectively referred to as the Cabinet. The closest advisors to the president are typically those who make up the White House staff, or Kitchen Cabinet.
The Constitution's creators included a single-headed post because they wanted vigor in the executive. The president is essentially a chief clerk under the constitution because he lacks any specific authority outside of Congress and his principal responsibility is to ensure that the laws passed by Congress are faithfully carried out. However, the presidency is currently the most significant and potent position in the American government. The Office of Management and Budget, which is in charge of organizing the president's budget plan, is one of the technical advisers in the Executive Office of the President.
Learn more about Cabinet. here.
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