Updated about 12 years ago on . Most recent reply
Transactional Funding - POF
I have an accepted bid from HUD and submitted a POF with my package but HUD is asking for proof of funds with my name and banking info. Has anyone ever ran into this problem using transactional funding????
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Jon Holdman
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#3 Real Estate Deal Analysis & Advice Contributor
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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
With HUD you're probably going to have to rack this up to the school of hard knocks. Your agent should have explained the risks with HUD. Have you handed over the EM yet? If not, don't.