ehhh... what?

Another update from my real estate agent. It seems I am totally clueless about this whole business, because I had assumed that the property listings she had sent me were ones I had a good chance of being approved for. As it turns out, however, she is only now checking some additional info on these apartments, and most of my favorites are actually out of the question - either because they are not "FHA approved", whatever that means (she did explain it to me once, but somehow I don't seem to recall the details of that explanation), or because the transactions are supposed to be "cash only" (who on earth walks around with $50,000 of cash in their pockets?... and if they did, why would they want to buy a small, one-bedroom apartment?...), or for some other obscure reason. ( Read more... )