I don't get a home within the pre approved time frame...What if?

Learn about the bidding processes and timeframes.  

Pay off high interest cc then invest or you can also use 0% introductory offers from cc but make sure you pay them off within the timeframe allowed. 

Most all of them are about the same time frame, but banks are way too slow!

During the same time frame, single-family home sales in the Austin-Round Rock MSA increased 3.7 percent year-over-year to 2,196 home sales.

Keep in mind that the Missouri Supreme Court this past month has decided that tenants have the right to a jury trial in rent and possession. . . so your tenant when you evict could hire an attorney and go to trial, not sure if they have a right to have an attorney provided for them or when the new rules will start being used.If we are unsuccessful in getting this overturned, expect a lot longer time frames - think months, not weeks and much higher costs. . . 

In my opinion, the most important point that Scott makes about building financial runway is that by living frugally and saving so aggressively within such a short time frame, you develop the mindset and habits required to accumulate wealth AND mitigate risk. 

(no ending time frame or penalties for longer than that). -- I was thinking if not complete by 270 days then owner can hire new contractor to finish work without penalty of breach of contract. - Builder asks me to indemnify, hold harmless and defend the builder for any and all claims associated with design issues.

Luckily we were able to push the contractors time frame up and get them all replaced, but I don't know what I would have done if that work needed to be done and all of my money was tied up in my mortgage.

This is a decent time frame and you will be protected to some interest rate rises in the future because you will pay down a decent amount of principal over that time frame.