LLC is helpful or harmful from a loan approval standpoint.

So even though I have $230,000 in available cash, you’re saying they would still be unlikely to approve any loan?

What do they need your approval for?

I also got pre-approval letter from bank so I’m ready to explore properties. 🙂* Deal finding tips are also welcomed.

According to hud you can purchase one year while in chapter 13 with FHA as long as you have at least a 580 credit score, on time payments history and with the trustees approval.

@Nathan Williams process the applications received quickly and pick the best applicAtion only based on approval criteria.

Obviously the contract should be written so that you can back out until the bank approves the sale, but still something to think about. 

I’m already pre-approved and have been looking for properties for a few months.

Around me you need approval from the county to do anything.

Once it's pending and has been set and docketed at the courthouse, the homeowner can accept an offer, but it would still need to be approved by the bank if there have been lis pendens filed.