Dear Edith: I recently made an offer on a foreclosed property that was rejected by the listing agent because I had preapproval from a correspondent lender instead of a direct lender such as Countrywide, BOA, etc. My cash deposit and earnest money were well over 20 percent of the price. The listing agent wouldn't even present the offer to the lender that currently owns the property. My credit is excellent and I have great income. This is the first time I've heard of this practice. Is this nor ...

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