Your frustration at being held hostage by other lenders promises and mortgage brokers inability to perform is EXACTLY WHY I advocate controlling the whole sale and financing process yourself by using owner financing as a tool to sell you renovated homes and to also finance them.
If you are a realtor, a mortgage broker, a note broker, or a real estate investor, our firm will work with you to provide you with top notch service along wtih competitive pricing on the financing you offer to your prospective buyers.
Remember my fond saying; “a quick nickel is a whole lot better than a slow dime…”- Sell that sucker FAST using creative financing techiniques that many investors are taking advantage of.
Call us toll free 800-659-2274 or click on the American Note banner ad above for more info on how we can help.
I am in the process of selling two rehabs that I’ve done and am getting more and more frustrated with dealing with mortgage brokers. I am working with a broker that has had a file on one of my houses that I’m selling for the last few weeks. He submitted it to a lender for approval and received a pre-approval back. The pre-approval came with a few conditions: VOR, VOD, '98 W-2, title. Nothing to get crazy about. We quickly got these items for the lender and a week later I’m still waiting to see if they will fund the deal. I’m told that it’s just taking a while to get through their underwriting department. It’s the holidays and people are out, etc. Now, I wasn’t born yesterday, and can tell that everybody is stalling here because it seems that the lender is probably trying to wholesale the note and work with the end buyer to make sure they will do the deal. Maybe it’s just me, but I when I say I’m going to do something given a certain set of conditions, I do it when those conditions are met. Why can’t lenders do the same? Anyhow, is it realistic for a rehabber to work directly with a lender that buys the notes from a wholesaler? It would be nice to just eliminate the middleman and go right to the source. I’m not talking about creating a note and selling it. I’m talking about the end buyer originating the loan.