I need to wire about $50.000 temporarily to my mother abroad so she can show liquidity for a bridge mortgage loan as she purchased an apartment and needs to sell her house. The bank over there requires an extra 10% custion to approve the bridge loan. I've been informed that is standard procedure. She will return the $50k after the bridge mortgage loan is approved. I want to make sure it's not considered a gift both ways. What best to do? Make it a loan? (can we do the signing retroactively or before wiring?) --- thanks in advance!
