Coastal Funding POF

Bird Dogs, Wholesaling
1

I want to use the POF letter from Coastal Funding to place my offer for an REO. Has anyone recently heard that this letter not acceptable? ANyone, please advise and tell me of your experiences using this particular POF or if there is a better POF that exists from another company,

2

Some lenders will not accept letters from transactional funding sources if you’re making cash offers. Some will, though. Best to just make the offer and see for yourself, as it varies with each individual lender.

You can also get a free proof of funds letter from Fund This Wholesler.net:
http://fundthiswholesaler.net/proof-of-funds/

Good luck,
Steph :cool

3

Thanks for the info steph!

4

Steph is right it all depends. I used their POF with one offer and it will declined right away. I tried again with another offer and they allowed that letter.

5

That’s what irritates me about banks these days. They cry and cry and cry that they have NPA’s on their books but yet they get so anal about almost everything. They make it so hard to buy property from them it makes you want to slap their faces seriously :banghead

6

I have used Coastal Funding’s POF letter several times and have had no issues.

7

I’ve used Coastal Funding POF before without any problems. It maybe the type of real estate or transaction tpe you are using ithe POF for that is causing the problem.
Kat

8

A POF is a POF it has been my experience that some REO agents are just a$$es and want to give investors a hard time.

9

I’ve used coastal fundings POF a couple times with no problems