Posted by JOhnP SFL on October 17, 2003 at 05:59:26:
Zack, I am not sure what post this is. Can you give me some more info? Zack, you can contact me off line at my email address.
JohnP
Ideas on ‘seasoning’ workarounds ?? - Posted by JC-FL
Posted by JC-FL on June 08, 2002 at 06:30:01:
It seems that the list of seasoning workarounds for a ‘short sale’ simultaneous close includes:
- Buy and hold for 6-12 months or so; (holding costs)
- Sell the note at the closing (5%-10% discount)
- Use a simultaneous specialist like Stated Loans.Com
(also a 5%-10% ‘fee’) - Find a bank that doesn’t have a problem with it. (very difficult)
Are there any other methods that I’m missing? Any thoughts as to which is preferable (other than #4)? Anything to avoid?
Re: Ideas on ‘seasoning’ workarounds ?? - Posted by JohnP SFl
Posted by JohnP SFl on June 08, 2002 at 09:25:10:
JC,
I do some work for a mortgage company. We have one bank that dosen’t care about seasoning at all and we work with another that wants minimum seasoning. They only want to see you on title. We have offices all over FL. Let me know if you are interested and I can direct you to the closest office.
JohnP SFL
Re: Ideas on ‘seasoning’ workarounds ?? - Posted by JoeS
Posted by JoeS on June 08, 2002 at 06:49:25:
Using #4 is what I do especially in the past 9 months. I did spend a lot of time searching for lenders that will finance a property without seasoning. They are becoming more plentiful. The better the credit of the end buyer the easier it is to finance.
I realize many “gurus” recommend lease-options, subject-to’s, CFD’s, and all these will work if you are comfortable using them. In other words, use whatever is better for YOU. Where I live the sellers want to see a “cash offer” which is what I give them. It does not have to be my cash, it will be my buyer’s cash! Hope this helps, just my 2 cents.
Re: Ideas on ‘seasoning’ workarounds ?? - Posted by Ryan
Posted by Ryan on October 19, 2003 at 19:19:53:
I’m in Ft. Lauderdale. If you have offices close to here please let me know.
Thanks a bunch,
RYan
Re: Ideas on ‘seasoning’ workarounds ?? - Posted by Zack
Posted by Zack on October 17, 2003 at 02:42:57:
Do they loan on houses in Georgia? If so I would appreciate their contact info.
Re: Ideas on ‘seasoning’ workarounds ?? - Posted by Daniella
Posted by Daniella on June 11, 2002 at 03:14:48:
Anything in CA?
Re: Ideas on ‘seasoning’ workarounds ?? - Posted by Wayne
Posted by Wayne on June 09, 2002 at 22:59:34:
I would be greatful if you could email me with the contact information for these Lender’s.
Thank You in advance!!!
Re: Ideas on ‘seasoning’ workarounds ?? - Posted by osirus
Posted by osirus on June 08, 2002 at 11:53:25:
I am a Floridian also. Could you email the financing sources that have no seasoning issues? Also, do they allow simultaneous closes?
Re: Ideas on ‘seasoning’ workarounds ?? - Posted by Ryan
Posted by Ryan on October 21, 2003 at 12:20:51:
Thanks for the info. I’ll be calling you shortly