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Updated about 10 years ago on . Most recent reply

Scott Elkovitch's profile image
Scott Elkovitch's profile image
Scott Elkovitch
  • Trader/ Real Estate Investor
  • from Farmington, New York
  • Member since Sep 19, 2014
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Scott Elkovitch's profile image
Scott Elkovitch's profile image
Scott Elkovitch
  • Trader/ Real Estate Investor
  • from Farmington, New York
  • Member since Sep 19, 2014
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Scott Elkovitch
  • Trader/ Real Estate Investor
  • Farmington, NY
4
Votes |
13
Posts
Private Lending & Conventional Mortgage Advice

Proof of Funds

Scott Elkovitch
  • Trader/ Real Estate Investor
  • Farmington, NY
Posted

Hello:  I have a 500k proof of funds letter from a lending company based in Cleveland. I went to submit an offer and the Agent says that she cannot accept my offer because the funds aren't in a bank account in my name... what can I do to solve this issue?  Thanks, Scott

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Chad U.'s profile image
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Chad U.
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  • from Boca Raton, FL
  • Member since Sep 20, 2012
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Chad U.'s profile image
Chad U.'s profile image
Chad U.
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  • from Boca Raton, FL
  • Member since Sep 20, 2012
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Chad U.
  • Investor
  • Boca Raton, FL
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Chad U.
  • Investor
  • Boca Raton, FL
Replied

Yeah, those ubiquitous POF Letters from the "We fund everyone" aren't worth the paper they're written on to those who know better. If you want to be serious about making offers, it should be from an account you own or control.

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