That's not bad money considering that's a NO INCOME VERIFICATION loan so there are no tax returns, no pay stubs and no profit and loss statements required.Keep pounding the forums guys. 

@James Orr Bummer to to hear that I missed out your classes.  

I would've had my attorney contact the Buyer's attorney for verification of funds for the overage to make sure that she was going to be able to perform beyond what she originally planned for (especially if she was receiving gift funds. 

@Derek Carroll....nope.....I tell everyone that wants to apply that I will review all the applications with a first come first serve order and the first one that meets all my criteria gets selected to go to the next step of verification of income, employment etc.You want to be first, then get your app in.......This was my first time doing it all online....so when I got contacted, I sent them my requirements and a link to the app...told them they are more the welcome to fill out the app before coming and seeing the unit in person and meeting me, but don't pay for the credit and background until you are sure you are seriously interested...no refunds.

I can't wholesale a property without full disclosure of the situation and my MAO was under 250K.I explained why.Regardless of which approach they take to selling this unwanted inheritance (with no equity, owing over 300K, and their own property as collateral)--either selling below ARV and refinancing their arm loan to release their property; or having an agent put it on the market--they're still going to owe a good amount (on the home to to the agent) after the sale.

Back in the day, REI educators attracting newbies with no cash or credit was trickier because they had to to convince you to part with what little money or credit you had, to buy a course or seminar.  

A written verification of mortgage payments is mailed to B and he fills it out, Gold Pot might accept that as any representations that seller makes as to payment history carries legal weight with the bank.Tax returns shown ability to pay, not timely payments.Lenders that can not accept the seller's word for timely payments (the seller has a vested interest in the loan being approved, they get their money) must verify payments somehow.

Make sure they have a good, verifible employment history.

Income verification/work history etc.

Also many times while the bad tenant is trying to move and potential landlord does a rental verification the landlord  either ignore or provide misleading information so the bad tenant can move out under cash for keys.