Yup, if you apply for payment with $40k in the bank they might make you wait a year or something ridiculous before you can get payment. Sell the house once you're *on* a payment and it isn't the same.

I had this discussion with CL a while back as I have a house for sale (never sold it, it is rented now). I'd just be putting the proceeds into our new house if it sold though, rather than leaving cash lying around. I'm under the CL asset limit by a lot despite having three properties - one is vacant land and one is a large and very nice house worth barely more than the land, just in a cheap area - and my pay gets cut down because of the rent.