I've been pre-approved for the asking price of the property ($24,900), and the mortgage banker at Quicken Loans has generated the documents based on that price.

So a foreclosure in their past doesn't usually give us pause during the approval process but we received an application yesterday and upon doing some quick checking we discovered that our applicant was able to prolong their foreclosure for nearly 8 years.My initial thought is that if they are this good at prolonging a foreclosure what will they be like (or how good will they be) at prolonging an eviction if we ever head down that road.Comments?

If there are more owners wanting to rent than the building allows a priority list is created and you can't put the unit up for rent until your unit is approved for rental by the HOA.

I have a situation where I have an end buyer that has been approved for a $350000 loan and they are looking for a deal.

The downside is that anyone can chime in, whether you approve of their opinion or not.I encourage you to recognize that not everyone will be in Harmony with your plans, ideas and conclusions.

We were currently approved for a 1.44MM acquisition and construction loan with loan fees totaling $1,000.

I am looking into hard money or private equity to make it work.I have access to a friend with enough money to work as a private lender also have been approved by a hard money lender in the past.The realtor said I need to provide a proof of funds.

If you are a marginal buyer assuming a loan the lender might not approve you at all or only if the current borrower stays on the hook for full recourse or a personal guarantee.

If you want to make cash offers you need those.Some lenders will give you proof of funds letters and those might work with some sellers.Or, get pro-approved and include your pre-approval letter with your financed offer.In any case, an accepted offer on a listed property means you're going to have to come up with real earnest money, not sure $10 or some such.

I got my pre-approval and looking for my first property.