Do You Have a Need for Alternative Types of Financing?

By
Real Estate Agent with HomeSmart Connect 471007886

With the financial set backs many have suffered in today's economy, how long will it take before these folke's "broken credit" gets fixed? Some of these have retrained and/or re-employed themselves with good incomes and cash in the bank.

Aren't there ways for the Realtor Community to help these "turnaround" candidates to obtain portfolio underwritten type loans. Or even Owner Financing? Many are already doing rent to own and lease purchase type transactions. Can't there be some "responsible underwritting" for unconventional financing?

 

Are real estate agents overlooking this segment of the market that is likley to be significant? Are you an agent that can provide this?

 

Are you a consumer that has a need for a more creative type of financing?

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Comments (4)

Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

I am doing quite a few LTO and CFD and you have to be careful in how you write them so as the loan is not called.

Jan 19, 2012 04:20 AM
James Lyon
LyonSF - San Francisco, CA
916-521-1214

Great post Jim, not everyone fits neatly inside the right boxes that you need now a days to get a loan.

Jan 21, 2012 03:36 AM
Kathy Sheehan
Bay Equity, LLC 770-634-4021 - Atlanta, GA
Senior Loan Officer

There are some portfolio products available in the market, you just need to find the right lender.

Jan 21, 2012 03:45 AM
Jim Holder
HomeSmart Connect - Arlington Heights, IL
REALTOR EMERITUS, ABR,ePRO,CNC,SFR,

Charles, James and Kathy, thanks for your comments.

Keep in mind that I have an investor that will buy the home your buyer wants to purchase and then provide owner financing. (so this is not contract for deed or subject to an existing mortgage as Charles mentioned in his post.)

Please fee free to contact me for further information.

Jim Holder

Jan 22, 2012 03:19 AM

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