If you are going to purchase the property on foreclosure than you will most likely have to pay the full purchase price within 24 hours.If you are not buying at an auction, you should still get a pre-approval letter from your lender.

However, if the executor has full powers, he or she can sign the contract without the attorney's approval.

It's usually a bank statement, a letter from your bank or a screenshot from your online banking page.What you are talking about is a pre-qualification or pre-approval letter from a lender (regardless of what they call it), and is used when making financed offers on property.If you try making a cash offer using this fake "POF," you'll find that most of the time, the seller will disregard your offer or make you change it to financed.Now, to answer your question, if you make a financed offer, it shouldn't matter whether you change the lender in the middle of the process, so long as the original lender (the one that provided the "POF") is a viable option should the new lender not be able to provide the funds.The key is, you need to be able to follow through on whatever you're telling the seller -- if you tell the seller it's a cash deal, you need to be able to follow-through with cash (and prove you have it); in this case, if you're telling the seller you are approved for financing, you need to be able to follow-through by getting financing, regardless of who the lender is.

I bet his Dad could qualify for a streamlined HARP program loan through his current lender with minimal documentation, no appraisal and minimal loan fees.

Chime in.Many I know use multiplier numbers... some people use spreadsheets or programs... what say you?

Basically I just signed up for the Joint Venture program with Richard Roop who leans towards owner financing using creative strategies and a long term hold approach.

So your first step is to get pre-approved for a loan.

They have been very responsible tenants so far, but their lease just started Sept 1.Do I approve a sublet (it requires all the same paperwork and co-signer paperwork as a normal lease) which I normally do in the summer for students leaving before the end of the lease?

Did you get short sale approval from bank yet?

However, that will put me above the 4 loans that most lenders will finance.I saw on another BP thread that someone suggested checking out New Penn Financial since - according to their website - they have a real estate investor loan program which allows you to finance up to 20 properties.