October 15th 2008

Dang nab it.....I have to get back onto my soap box...

When you are buying a home, please take the time and get a pre-approval. NOT a pre-qualification, a pre-approval and be prepared to have some form of a down payment at this time.

I have been tracking my local market now for the last few years and at this current time REO (bank owned properties) and pre-foreclosures (short sale) properties are selling more then any other home.

One of the important keys to getting a offer accepted you might make on a REO or pre-foreclosure is your pre-approval letter of your mortgage company you consider using.

To find out what the crucial difference is between pre-approval and pre-qualification click on the link provided and it will take you to our explanation page.

Bettina Settles