Hey popcorn is fattening. Besides we kinda are both right… All kinds of ways to kill a house…
And if you take out the Double Closing and the title seasoning issues… This idea is great. There are only 4 Lenders that will allow no title seasoning other then HML’s. This idea worked great until the market changed now the end buyers loan is getting harder to find.
Some conventional lenders are still lending without seasoning. They are few and far between but there are a few. When you are getting conventional financing go with smaller local and regional banks they still have loan products for your borrowers.
What is a pocket listing? Thanks in advance.
Pocket listing is a listing that is not on the mls. What happens is many REO agents have lists of investor buyers. When they get a listing they blast it out to their list and see if they can lock up a buyer first so they can double dip on the commission. If they don’t lock up a buyer it then goes on the mls.