Heres a Deal, Right??
A caller calls me up with house that has an appraised value of 139k with 125k of mortgages on the house. Now is the bank still ready to do a short sale on a property that has equity in it??
A caller calls me up with house that has an appraised value of 139k with 125k of mortgages on the house. Now is the bank still ready to do a short sale on a property that has equity in it??
Get the owner to place the home in a LANDTRUST for asset protection reasons!
Have the owner put you in the Trust as a Co-Beneficiary to mange the home, leaving the mortgage in place for say 2-3 years.
Inside the Trust you can silently transfer the ownership at any price you and the Owner agree to and the Bank would have no way of finding out about the sale!
Thereby NO-"DUE-ON-SALE" Clause compromise.
Then you could turnaround and resell the home FULL-Price or @ 10%-115% more than the price you buy it at. Here's the AD TO FIND YOUR NEW BUYER:
"NO MONEY DOWN" No Credit Check, No Bank Qualifying, No New Bank Loan-Take over payment on this goregeous home!
2-3 payments moves you in or will sell BELOW -MKT with 10-15% down!
Call ME (xxx)xxx-xxxx!"
That's the only short sale you'll ever need!
Want more info on setting up this kind of LandTrust?
Contact me: Derrick at ASupremeCo@ureach.com
Asupremeco@ureach.com
[addsig]
Actually I am thinking that if neccessary I want to keep it as a rental.