Since it is an HELOC, it is doubtful that they will settle for anything less than 10%.

If they are, then go for it, but I doubt it.Good luck!

I've been down that road of self-doubt as an investor, and it really shouldn't be any different for you as an owner/occupant.

If a loan exists at this time, the loan is one taken out by the new owner and does not reflect upon the sale that was held 3 month earlier.Banks do strange things these days, there is no doubt of that.

With 30K, I doubt you'll turn that into 30+% return in lease options, the options have to be taken for the winnings to be paid.

Under current conditions, with most rates being higher than current rates and other foreclosure problems, I doubt a bank or lender will be chasing you down demanding full payment, but if they did, you still have recourse and like I said, when push comes to shove, I never had it happen.

I doubt that in normal circumstances that a shotgun approach works.

This reminds me of a Rudyard Kipling Poem, titled:IFIf you can keep your head when all about youAre losing theirs and blaming it on you,If you can trust yourself when all men doubt you,But make allowance for their doubting too;If you can wait and not be tired by waiting,Or being lied about, don't deal in lies,Or being hated, don't give way to hating,And yet don't look too good, nor talk too wise:If you can dream - and not make dreams your master;If you can think - and not make thoughts your aim;If you can meet with Triumph and DisasterAnd treat those two impostors just the same;If you can bear to hear the truth you've spokenTwisted by knaves to make a trap for fools,Or watch the things you gave your life to broken,And stoop and build 'em up with wornout tools:If you can make one heap of all your winningsAnd risk it on one turn of pitch-and-toss,And lose, and start again at your beginningsAnd never breathe a word about your loss;If you can force your heart and nerve and sinewTo serve your turn long after they are gone,And so hold on when there is nothing in youExcept the Will which says to them: 'Hold on!'

But it's doubtful any of it will come from appreciation in the pending climate.

I would highly doubt that they would charge you already, like steve said, Pre-qual is not an application.Did he specifically ask you for a CC to cover the cost?