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Updated over 6 years ago, 08/29/2018

User Stats

22
Posts
15
Votes
Adam Horowitz
  • Lender
  • Fort Lauderdale, FL
15
Votes |
22
Posts

Short Sale Lenders that will ride out a downturn

Adam Horowitz
  • Lender
  • Fort Lauderdale, FL
Posted

I am looking to establish a track record with a short sale lender, so if and when credit gets tight, I can have access to funding for short sales. Likely, will go with the lenders that already have a short sale or foreclosure lending product, for obvious reasons. 

Bottom line, I am looking for a lender that has an iron stomach during a correction. Any suggested lenders? 

User Stats

23,418
Posts
13,507
Votes
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,507
Votes |
23,418
Posts
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

No such thing as a "short sale lender".....you're getting a regular traditional mtg based solely on your credit/income and the subject property appraisal.....doesn't matter if it is a regular, REO or short sale.

User Stats

41,961
Posts
61,769
Votes
Jay Hinrichs
Professional Services
Pro Member
#4 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
61,769
Votes |
41,961
Posts
Jay Hinrichs
Professional Services
Pro Member
#4 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

ya never heard of this ..  and lenders as U probably know have very weak stomachs.. now cash upped investors that's what you want during a rough ride..

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User Stats

22
Posts
15
Votes
Adam Horowitz
  • Lender
  • Fort Lauderdale, FL
15
Votes |
22
Posts
Adam Horowitz
  • Lender
  • Fort Lauderdale, FL
Replied

@Wayne Brooks @Jay Hinrichs Thanks. Cash upped investors it is.