Short Sale Deals With Transactional Funding

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Short Sale Deals With Transactional Funding

By: Morgan Foreman
Posted: Jun 17, 2009
Views: 218

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If you’re a preforeclosure financier, with the tightening credit markets, you haven’t any doubt noticed how much tougher it is today to shut short sale deals. During the past, lots of hard money options, together with double closings and concurrent closings made closing short sales a breeze. However, with the credit crisis, mortgage crime, and tighter restrictions with lenders and title corporations, closing short sales isn’t as straightforward as it used to be.

However, there is still one terribly very easy way to shut your short sale transactions without using double closings, hard cash, concurrent closings, or maybe the over complicated land trusts.

That strategy is using back-to-back closings to get all your short sale deals closed and financed in good time. The first exchange is the homeowner facing foreclosure selling to the preforeclosure investor.

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So where do you get this funding of your deals? This is typically called transactional funding, and today, there are multiple banks making these sorts of loans. Lenders love transactional funding, because they are only lending for a period of some hours.

With the end buyer’s loan already authorized and in place, 2 separate and distinct transactions happen on the closing day. The 1st is the financier buying the short sale deal from the distressed homeowner.

The end buyer is using funds got by him through a standard loan, or cash. The sole such exception are FHA loans, which at the time of writing this article, have a ninety day seasoning obligation. However, as the estate market changes, and the home market remains volatile, it is very possible the FHA might change its guidelines.

Transactional funding is the ideal way for preforeclosure investors to fund their short sale deals in today’s foreclosure ridden market.

Morgan Foreman is a recommended author in the area of foreclosures and short sales. He will show you how to get guaranteed transaction funding with no cash or credit needed. Do you need a proof of funds letter? Learn about Double Closed and visit http://www.WeProvideTheFunds.com
.

Morgan Foreman – About the Author:

Morgan Foreman is a recommended author in the field of foreclosures and short sales. He will show you how to get guaranteed transaction funding with no cash or credit needed. Do you need a proof of funds letter? Learn about Transaction Funds and visit http://www.WeProvideTheFunds.com

Source: http://www.articlesbase.com/real-estate-articles/short-sale-deals-with-transactional-funding-978001.html

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Article Tags:
proof of funds, double closed, double closing, transaction funds, transactional funding

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