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Updated almost 11 years ago,
Cash For Foreclosure Purchase - Hard Money
One of the tips for getting a bank to accept your offer on a foreclosure is if you bring cash, they are more likely to accept. My question is whether hard money counts as cash in that instance. My hard money lender won't actually sign off on a deal or even look at a deal with me unless I have it under contract. I do have access to a Proof of Funds letter. Is the Proof of Funds letter good enough for the bank to say yes, this guy has cash? Thanks for your help on this.