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Sandra, Home Buyer in Lakeway, Mentor on the...

difference between CASH and letter of credit ?

Asked by Sandra, Lakeway, Mentor on the lake, OH Wed Jun 27, 2012

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Jim,
I have been complimented on my sarcasm,
but you take it to a new level.

God bless
1 vote Reply Flag Link Wed Jun 27, 2012
Cash is sort of green, a letter of credit is usually on white paper, although I have seen one on beige. Cash is bulkier if it is a large amount. A letter of credit usually has some conditions spelled out, cash does not. Both work.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
1 vote Reply Flag Link Wed Jun 27, 2012
The only thing missing is that most people prefer the cash over the letter of credit. It must be that people like the color green more than bland colors like white or beige....yes, I'm sure that's the reason.
0 votes Reply Flag Link Wed Jun 27, 2012
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