REO W/ VA LOAN

[Jeffrey K.]

I am working on an REO Duplex (needs 40k work) that is listed on the MLS. It is offered through Bank of America's VENDI program as it had a VA loan before it was taken back by Bank of America. They have not moved much in the past few months, but when I put in my last offer they told me that in addition to my normal Preapproval letter, that I had to get one from their bank. I called them and he told me that Bank of American residential does not lend to LLCs, and that it is a commercial deal. I have never had this problem before. Has anyone else had this problem, or does anyone know how to solve this?

My next option is just to offer cash, but it was priced so poorly that I was trying to get closer to thier number by taking the financing (terms) to make up for it.