Foreclosure University Blog

Question: When closing short sales and finding a buyer in 30 days or less, are you using a land trust to avoid the seasoning issues or are you double closing in your own name? How do you avoid the seasoning issues?

Answer: -It’s becoming harder and harder to perform a double or simultaneous closing because of all the mortgage fraud going on in the lending industry. However, there are a few title companies still around in certain states that will do this for you, you just have to find them. The land trust is used to provide added protection and helps in avoiding the due on sale clause. So using a land trust is beneficial even if you can’t perform a double closing. The most common seasoning issues come when you buy a piece of real estate for $100,000 one week and sell it for $200,000 the next. They begin to wonder how it doubled in price so quickly and you or your end buyer may have to explain that you got a good deal.

We’ll I finally decided to keep up with the times and add a blog. It’s been interesting and fun at the same time. As all of you probably know, now is a great time to begin investing in any kind of real estate. Deals are all over the place. Now is the time to GO BIG if you can! Don’t limit yourself to just foreclosures either. We are seeing developments half finished, (now in foreclosure) that you can pick up for .40 on the dollar. Same with multi units that were half finished and they just ran out of money. A lot of good stuff going on out there. Let’s take advantage of it while we can. If I hear of any exciting news, I’ll be sure to let you know.

Success if Yours

Jarad