Title Seasoning
I wanted to make this post to help you as I often get the question “will this lender fund the end buyer’s loan, will that lender fund the end buyer’s loan on the B to C side”. The answer is often yes, and no, depending the underwriter on the deal. If you want to find out for sure, here is a short video tht explains how I avoid the pitfalls of title seasoning and a conversation you must have on every deal before taking a contract.
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#1 by John M Pierro at May 12th, 2009
Excellent Tip Jason, As always you are right on target. It has been my experience as well, that it really does come down to the individual underwriter and not necessarily the bank.
#2 by Dave Reynolds at May 12th, 2009
Powerful recommendation. Will incorporate this on my ‘required things to do’ list when evaluating buyer ‘C’ offers. Great post!
#3 by Randle Bowling at May 12th, 2009
Hey Buddy,
Good stuff. I want to get some of your videos as part of our education series for our “Short Sales Automated for You” Program. All of our clients will get your information and know that you are our only recommendation for flash cash when flipping. Take care buddy.
#4 by Randy Wolosek at May 12th, 2009
Valuable information and can really save a lot of time and money. I will be sure to use this when I do a short sale. Thanks Jason.
#5 by Sol at May 12th, 2009
Just the info I needed, working on a deal and sounds like the the C end is looking for use to hold the property for at least a week before the C lender will approve the close. Wondering how that will work, I haven’t yet applied for funding help with you. Let me know you thoughts. Thanks for the help.
#6 by John E Brandon at May 12th, 2009
Most helpful and appreciated information. Sometimes we overlook what is considered “small details.”
#7 by ERLINDA at May 12th, 2009
Thanks for your email, great lesson coming from you . I collected all the info you sent me, for my training goals.
#8 by eddie hernandez at May 12th, 2009
just wanted to say, this video is awsome!! out of all the shortsale flip programs Ive been looking into, yours seems to be the most transparrent and helpfull. Thank you and God bless you….
#9 by Gordon Bell at May 12th, 2009
As always, appreciate your candor and good information.
#10 by Mark at May 12th, 2009
Man, that was better than your other post on this topic. And the other post was good…I like this one a little better because it allows you to use more lenders. And the recommendation to get local lendeers could be used as a backup plan or plan “B”. Thanks for giving us more useful information than most other people offering products. Have a great day!!!
#11 by Ora Eash at May 12th, 2009
Some great admonition learn from others experience God bless
#12 by Lou Patin at May 12th, 2009
Thanks! great suggestion. I normally have the LO talk with the the underwriter but this is a lot more efficient and ensures the LO isn’t blowing smoke…
#13 by Gary Norris at May 12th, 2009
Nice golden nugget of truth there Jason, as always, thanks for your sharing of valuable information.
Make it a great day!
#14 by Emigdio at May 12th, 2009
Very Very Very…Good information.
JM I give you a 10 out of 10.
Emigdio
#15 by Greg B at May 12th, 2009
Words to live by. I hate snafus when the deal is that close to being done. Thanks for the sage advice!
#16 by Dan Sojka at May 12th, 2009
I remember you teaching about this issue once before but you really made it even more clear now. Thanks for the $ saving recap.
#17 by Terry Hubbard at May 13th, 2009
Jason, thanks alot for the info. as always you are very helpful in letting people know potential pitfalls and how to avoid them. again thanks for your insight.
#18 by Nick in Vegas at May 13th, 2009
Jason,
Word up bro! That’s good to know, and that’s going to help a bunch. Thanks brother.
NC in Vegas
#19 by Mike Corradini at May 14th, 2009
This would have saved me over $90K just last month!
#20 by jennifer at May 27th, 2009
Jason, thanks for all that you do. Since it’s really hard to find lenders without seasoning requirements, would it work if the B buyer added their name to title once the bank had given the approval and before paperwork produced for the B to C deal?? I know you are creative…
#21 by ERIC EASTER at May 31st, 2009
FANTASIC TIP AND IN DEPTH DETAIL ON HOW TO DEAL WITH THE END BUYERS LENDER
THANKS!
#22 by Gary G at June 1st, 2009
I know someone who did that on, I think, a home equity loan. although I can’t be quite sure it was a HELOC.
Anyway, when the lender balked, she said”oh no, they don’t understand.” ( I don’t know exactly what the issue was). …and she called to arrange to speak with the underwriter herself, no realtor involved. The outcome was she got the loan. I remember how happy she was when she was telling me the story.
#23 by Clea at June 5th, 2009
Thank you for the information!!!!! I was just discussing this issue with my partner this morning!!
#24 by Carmen Mitcheltree at June 14th, 2009
Thank you for this.
We really need all the help you can give us here in Carson and Long Beach, Los Angeles County, Southern California.
I’m into revitalizing communities affected by foreclosed properties.
#25 by Regina J Brown at August 15th, 2009
Jason, thank you so much for helping all of us to become successful. I purchased Chris & Nathan’s course and I look forward to doing my 1st deal with you as the funder. Thanks again.
#26 by Larry Burklow at November 2nd, 2009
Thanks Jason. I’ll definitely keep this in mind when talking to clients looking for short sale flips.