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Updated over 11 years ago on . Most recent reply

Jloundia Edwards's profile image
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Jloundia Edwards
  • from Summerville, South Carolina
  • Member since Oct 25, 2012
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Jloundia Edwards
  • from Summerville, South Carolina
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Jloundia Edwards
  • Summerville, SC
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Private Lending & Conventional Mortgage Advice

Transactional Funding - POF

Jloundia Edwards
  • Summerville, SC
Posted
I have an accepted bid from HUD and submitted a POF with my package but HUD is asking for proof of funds with my name and banking info. Has anyone ever ran into this problem using transactional funding????
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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

With HUD you're probably going to have to rack this up to the school of hard knocks. Your agent should have explained the risks with HUD. Have you handed over the EM yet? If not, don't.

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