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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Double Closings Posted by Jerry - Ca. on April 26, 2008 at 9:55 AM In Reply to: Re: Double Closings posted by Micah on April 25, 2008 at 9:00 PM : "On Short Sales I understand that it is considered Bank Fraud to do double/simultaneous closings. That's probably why you're having trouble with Escrow Companies and Title Insurance Companies!" : That's not correct. It only might be fraud if you don't tell the short sale lender. Simply include it in the contract and/or the HUD-1 you send the short sale and now they've been informed. And believe it or not, they will still approve the transaction. I've done it with several different short sale lenders and have never been turned down... unfortunately I can't find a title company who will cooperate even with shortsale lender approval. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX Micah: If you read all the postings ... that's what I said about bank fraud ... Wrong info. given or left out of Hud-1 form. I've never seen a short sale lender let an investor be the middle man in a transfer and make a profit doing it! Are you sure that you weren't representing youself as the end-buyer? If you can flip and sell the property for more money ... so can the lender! Times are very tight right now for lenders with so many foreclosures that maybe they are relaxing their policies! Still doesn't solve your title insurance problem ... does it! My way does! Jerry-Ca. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : "On Short Sales I understand that it is considered Bank Fraud to do double/simultaneous closings. That's probably why you're having trouble with Escrow Companies and Title Insurance Companies!" : : That's not correct. It only might be fraud if you don't tell the short sale lender. Simply include it in the contract and/or the HUD-1 you send the short sale and now they've been informed. And believe it or not, they will still approve the transaction. I've done it with several different short sale lenders and have never been turned down... unfortunately I can't find a title company who will cooperate even with shortsale lender approval. : XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX : Micah: : If you read all the postings ... that's what I said about bank fraud ... Wrong info. given or left out of Hud-1 form. : I've never seen a short sale lender let an investor be the middle man in a transfer and make a profit doing it! Are you sure that you weren't representing youself as the end-buyer? If you can flip and sell the property for more money ... so can the lender! Times are very tight right now for lenders with so many foreclosures that maybe they are relaxing their policies! Still doesn't solve your title insurance problem ... does it! My way does! : Jerry-Ca. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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