Yes, you need to show bank statements (or some other financial institution like a brokerage account) showing sufficient cash reserves. 401K accounts can be used, too, though there is a discount factor to account for taxes and penalties.

A mortgage broker who really understands investor lending can be a big help, too.The FDIC Institution Directory can be handy, too.

It was my understanding (as someone not in the financial industry) that financial institutions did not have to write down current mortgages the same way they had to write down those late or in default.

Institutional sellers (HUD, banks, etc.) are unlikely to do options at all and are hip to the "weasel clauses" you suggested.

And the "street level" guys want more inventory but their margins are getting squeezed from larger institutional investors.

But then MidAltantic is not a financial institution (they are just an administrator) and they use a custodian for your IRA.. so you may be out of luck unless you call the actual custodian and inform them about the issue.

He has a joint account outside of this portfolio with the same institution that is labeled/coded as the same "Prime Money Market Fund" that is just a regular MM that can be withdrawn at any time.

Some of us have more exposure to first liens opposed to second liens or more institutional opposed to private or even specific collateral variations.

Your name does not need to be on both accounts to transfer between financial institutions.

Institutional returns are very thin right now.