I've found that a pre-approval doesn't require much documentation at all.

Is their a pre-pay penalty?

This deal is scaring the heck out of me.Third home I made a "pre-auction" bid on of $7,001 that was accepted.

Moreover, as in line with our business practices and explicitly stated in the disclaimer, you filled out a pre-qualification form, a MoFin representative contacted you to discuss next steps, and notified you were are lending in your state.

I've never bought a pre-foreclosure before, just bank-owned REO.Thanks - very interested to hear your opinions on this!

You can use that for your daily needs, especially paying down your other higher APR loans.However, I always believe real wealth buildup is based on appreciation with leverage.

Pretty amazing to live within 30min of skiing, boating, mtn biking, hiking and I can't forget the BIG city of Burlington (~40k) HA!

I actually bought a pre-selling condo that is promised to be finished by 2019 or 2020.

You could get a personal loan based on credit worthiness with repayment term anywhere from 3 to 15 yrs, but the APR will likely be over 10% especially for longer terms.

The reasons I do: A) I can sell for full premium price; B) I can sell the property fast if others in the area are moving slow; C) I get a nice return on my investment, usually better then most other investments (I typically charge 20% Down and carry the Note for 10 years at 10% APR); D) better cash flow without being a landlord or dealing with landlord hassles (NO Repairs, NO Calls, NO Reserves needed, NO Property Taxes, NO Property Insurance payments; The payments come in and if I don't have a mortgage, the funds are 100% cash flow.)When buying a fixer-upper property and rehabbing it, you can average well over 20% APR return on the net cash invested when offering seller financing!!