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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Double Closing Funding Posted by James on June 14, 2008 at 6:04 AM In Reply to: Re: Double Closing Funding posted by Ty on May 01, 2008 at 12:16 AM : I know of a company that provides wet funds for double closings. They will fund your purchase from the short sale seller so that you can take full title and be able to transfer it to your buyer. They also have a title company that is national. If interested send me an email to Ty@rmbloans.com : : : : I am running into problems finding a title company that will perform double closings on short sale transactions when there is conventional financing for the end buyer. Does anyone know of a title/escrow company that will do a simultaneous close without disclosing to the end buyer's lender? : : : : Is buying with my own funds and then selling in a separate transaction the only way??? There's got to be way around this but Im not having any luck talking to any of my contacts.....Help : : : XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX : : : FF: : : : 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! : : : The only legal way that I know of to do this ... is to put the property in a Title Holding Land Trust with the Seller/Settlor Beneficiary owning 100% of the Beneficiary Interest. Then have yourself, : : : End-Buyer, and a Private money Lender or Hard Money Lender (HML) added to the trust as Co-Beneficiaries. Use the Private/HML money to pay-off settlor loan, on the HUD1 the Trust is named the BUYER. : : : Once the closing for the loan is finished, continue with the next closing with the Trust as the seller ... and escrow pays the HML, the seller, and you as Beneficiaries! Of course, the HML is going : : : to want some very high interest points for this one-day loan! There will be no problem with Escrow Officers, Title Insurance Co., Lenders, or Loan Seasoning Issues. : : : Jerry-Ca. : : XXXXXXXXXXXXXXXXXXXXXXXXXXX : : I made a mistake above ... "Use the Private/HML money to pay-off settlor loan, on the HUD1 the Trust is named the Buyer." It should have been Buyer on HUD1 for loan pay-off and Seller on HUD1 to End-Buyer! : : Jerry - Ca. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX CrossLink Funding will provide your cash so you can conduct your double close. Try www.crosslinkfunding.com Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I know of a company that provides wet funds for double closings. They will fund your purchase from the short sale seller so that you can take full title and be able to transfer it to your buyer. They also have a title company that is national. If interested send me an email to Ty@rmbloans.com : : : : : I am running into problems finding a title company that will perform double closings on short sale transactions when there is conventional financing for the end buyer. Does anyone know of a title/escrow company that will do a simultaneous close without disclosing to the end buyer's lender? : : : : : Is buying with my own funds and then selling in a separate transaction the only way??? There's got to be way around this but Im not having any luck talking to any of my contacts.....Help : : : : XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX : : : : FF: : : : : 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! : : : : The only legal way that I know of to do this ... is to put the property in a Title Holding Land Trust with the Seller/Settlor Beneficiary owning 100% of the Beneficiary Interest. Then have yourself, : : : : End-Buyer, and a Private money Lender or Hard Money Lender (HML) added to the trust as Co-Beneficiaries. Use the Private/HML money to pay-off settlor loan, on the HUD1 the Trust is named the BUYER. : : : : Once the closing for the loan is finished, continue with the next closing with the Trust as the seller ... and escrow pays the HML, the seller, and you as Beneficiaries! Of course, the HML is going : : : : to want some very high interest points for this one-day loan! There will be no problem with Escrow Officers, Title Insurance Co., Lenders, or Loan Seasoning Issues. : : : : Jerry-Ca. : : : XXXXXXXXXXXXXXXXXXXXXXXXXXX : : : I made a mistake above ... "Use the Private/HML money to pay-off settlor loan, on the HUD1 the Trust is named the Buyer." It should have been Buyer on HUD1 for loan pay-off and Seller on HUD1 to End-Buyer! : : : Jerry - Ca. : XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX : CrossLink Funding will provide your cash so you can conduct your double close. Try www.crosslinkfunding.com [ 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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