We put in a bid for a foreclosure. Along with that we had to submit a mortgage prequalification letter and statement from them stating our liquid funds.
Now the broker is asking for statements from our bank showing our assets. This makes me nervous. Did this happen to anyone else??
carolinebr
Posted:
Member since
Re: anyone bid on foreclosure
Yes - totally normal. We just bought a foreclosure. We close in 2 weeks. We went through the same thing. In addition to a prequal letter from our mortgage company, we had to get prequalified by the SELLING bank, even though we had no intentions if using them.
And don't be nervous - when you get your offer accepted and take the next steps to get your mortgage, most mortgage companies will ask for your bank statements, your credit report, your 401k statements, your pay stub, your first tooth, and the name and address of your 1st grade teacher They put us through the ringer and we bought a house for much less than we expected to spend,
