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A Proof of Funds can be used for any purpose including:
* Proof of Collateral
* Net worth requirement
* Proof of Liquidty
* Bond Requirement
* Show of Down Payment
A POF is basically a document that indicates that a person has the ability and money available to use for a transaction. Normally it comes in the form of a bank, security or custody statement. The purpose of a proof of funds is to ensure that the funds required for the transaction are legitimate and obtainable.
In most cases, the funds are in a bank account in your name. No piggy back accounts.
The biggest reason most cannot obtain a POF is because they think they can pay the fee for obtaining a proof of funds after a transaction is completed. This is just not going to happen and they are wasting their time and the provider's time.
Some also think a proof of funds is a loan. That is the farthest thing from the truth. A POF is NOT a loan. This service is providing Proof of Funds.
The best and most economical provider we have seen can provide a Proof of Funds from $100K to a maximum of $500M and will provide a rate schedule and a very simple application upon request.
More info at http://pofsnow.blogspot.com