Posted by GetSmart on April 27, 2008 at 07:17:28:
Did you ever send your question to HUD?
Option or a land trust to avoid title seasoning - Posted by Terry
Posted by Terry on February 21, 2008 at 19:31:13:
I’m in to doing short sales and flipping them. I’ve been using options to present to the banks and have had no problems yet. My question is can the option serve as title seasoning or should I just use land trusts or both. I’ve been reading that some places are having troubles with land trusts because they don’t understand them (CA). Example- if a short sale takes four months which means my option is four months old now and my back end buyer is a FHA loan does that count as title seasoning? or should I use the land trust with the assignment of beneficial intrest.
Short Sale Flipping - Posted by River City
Posted by River City on February 22, 2008 at 07:03:05:
You can email HUD with these questions at hud@custhelp.com. They used to be pretty good at getting back to people. I only had problems if it was a question they could not answer. My job used to involve loss mitigations. Short sales are a form of loss mitigation.