Funding and Closing a Short Sale
As a result of the mortgage meltdown, beginning with sub-prime mortgages and other lending practices and then leading to increased foreclosures and declining real estate values, mortgage guidelines have tightened. The credit crunch has led to an increase in mortgage fraud and real estate scams; thus, resulting in even more lender restrictions. Real Estate Investors and home buyers are noticing how difficult it is to acquire financing for most any real estate transaction, especially short sales and transactions that deal with distressed real estate.
There are many techniques that savvy real estate investors have been using to close REO and Short Sale transactions, including double closings, hard money financing, back-to-back closings and even the more complicated closing using a land trust.
In any event it is important that the real estate investor who is preparing the documents and structuring the closing work with qualified real estate professionals, attorneys and title companies to ensure they are doing things right.
Transactional lenders provide funding for the short sale investor; they may also provide the document prep and closing services to close the deal quickly and efficiently. There are many transactional funding lenders on the internet who provide a variety of services and their fees also vary. If you choose your transactional lender wisely then you should have no problem working a short sale transaction and getting around the roadblocks investors are facing.
Jodi Funke is a transactional lender with Cash for Short Sales.com, a company who specializes in one-day funding for the short sale. Their nationwide team of professionals, attorneys and title companies can close back-to-back transactions in every state across the nation. They take pride in their ethical, honest business practices, always working with the highest integrity. Work with Jodi Funke and Funding and Seasoning issues will not be a problem; learn more at http://www.cashforshortsales.com
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A land trust is an agreement where the trustee agrees to hold ownership of a piece of real estate for the benefit of another party or the beneficiary. The land trust involves two major components; the Trustee and the Beneficiary(s). Here is some information about the use of a land trust when working a short sale transaction:
A land trust is an agreement where the trustee agrees to hold ownership of a piece of real estate for the benefit of another party or the beneficiary.
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Many real estate investors would love to buy foreclosed homes cheap, fix them up, and sell for a profit; others want to buy and sell the same day. Just think, the end result could be neighborhood recovery in areas suffering the worst effects of foreclosures
A land trust is an agreement where the trustee agrees to hold ownership of a piece of real estate for the benefit of another party or the beneficiary. The land trust involves two major components; the Trustee and the Beneficiary(s). Here is some information about the use of a land trust when working a short sale transaction:
A land trust is an agreement where the trustee agrees to hold ownership of a piece of real estate for the benefit of another party or the beneficiary.
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