Florence, KY (PressExposure) August 04, 2009 -- The market is flooded with foreclosures; mortgage guidelines have tightened and real estate closings have become more complex. This has put a lot of pressure on home buyers, sellers, real estate investors and mortgage brokers. Few people today are buying homes at retail with conventional mortgages.
This is one reason you see so many vacant homes in urban and suburban neighborhoods today. Boarded up homes are becoming eye-sores in nice areas as they continue to fall into disrepair or are condemned by the city or township. Meanwhile, people are jobless and homeless as things just continue to get worse.
Real estate investors looking for great buys and hoping to resell them for a profit are becoming frustrated with the strict rules and guidelines. Many investors would love to buy these empty homes, fix them up and get them occupied but lack of funding has made it impossible.
Savvy investors are working with lenders and homeowners facing foreclosure by negotiating short sales, which benefit all parties involved. The lender avoids the lengthy, costly foreclosure procedure by agreeing to accept less than he is owed on the mortgage. The homeowner benefits by reducing the amount of damage done to their credit by avoiding foreclosure and meeting a large part of their obligation to the lender. The end buyer gets a great deal and the real estate investor makes a profit too.
Unfortunately, funding is a road-block many investors face when dealing with short sales. The only way to be successful is to have cash to buy the property in order to sell it to the end buyer. Conventional mortgages are for retail homebuyers who are purchasing a home for their primary residence. Investment mortgages are nearly impossible to obtain today and they are not practical for funding short sales.
Jodi Funke is a transactional lender who understands this dilemma. âLack of funds is the number one reason most real estate investors cannot close a short sale deal,â said Jodi. âWe provide one-day funding for the investor to buy the property and our nationwide team of closing professionals, attorneys and title companies are experienced in doing back-to-back transactions so the investor can fund the deal and resell the property the same day. Itâs a win-win deal for all parties involved.â Learn more about wholesale funding at http://www.cashforshortsales.com
Contact: Jodi Funke, Transactional Lender Cash for Short Sales 7657 Mall Rd Florence, KY 41042 859-594-4357 firstname.lastname@example.org
This press release was submitted by Right Now Marketing Group, LLC