InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Fundamentals Code References 50 State Foreclosure Basics Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Double Closings Posted by Jerry - Ca. on April 06, 2008 at 2:42 PM In Reply to: Re: Double Closings posted by SC on April 06, 2008 at 0:25 AM SC: You asked: "Your solution sounds pretty good. Have you or other people tried it out before?". Yes, We have used this many times before! I belong to Network of over 1100 Investors Nationwide and this method is and can be used in all states except Louisiana and Tennessee. These two state do not recognize the Doctrine of Equitable Conversion, so in those states the Trust's payoff is considered a Real Property Sale and therefore the Trust is no different than any other entity buying and selling. In New York State, because the Short-Fall lender receives a ReCertified title of pending recording of the deed and transfer tax returns from the closing attorney ... the end buyers fund may be used to pay-off the existing loan and no private or HML money is needed! Jerry - Ca. NARSonian Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : SC: : You asked: "Your solution sounds pretty good. Have you or other people tried it out before?". Yes, We have used this many times before! I belong to Network of over 1100 Investors Nationwide and this method is and can be used in all states except Louisiana and Tennessee. These two state do not recognize the Doctrine of Equitable Conversion, so in those states the Trust's payoff is considered a Real Property Sale and therefore the Trust is no different than any other entity buying and selling. In New York State, because the Short-Fall lender receives a ReCertified title of pending recording of the deed and transfer tax returns from the closing attorney ... the end buyers fund may be used to pay-off the existing loan and no private or HML money is needed! : Jerry - Ca. : NARSonian [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2008, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455