confilt of intrest question
I went to put a bid in on a forclosure but the bank that owns it require a pre-approval from them to bid on it. Isn't this a conflict of intrests I will be giving them all my financial infomation so now they know how much I can afford to pay for the house and if I asked for a certain dollar amount for the pre-approval how much I am willing to spend. Of course with the state the banks are in right now I doubt they have the time and resources to actually make use of the info but it still sounds like a conflict of intrest to me.
Does anyone else consider this a conflict of intrest for to have to give the owner of the house (the bank) all your infomation or is it just me?