I’ve come accross something that I have never heard of before and cannot find information on it anywhere. It has been described to me as a loan given to an investor that is put in an account with the title company that is used to qualify the investor for a mortgage product without actually using any of His/her money. It could be for a 90% investment property, or a loan for earnest money, or for income/piti verification. This pretty much makes just about anyone with good credit capable of buying almost anything. I am waiting to actually here from the rep of the company that does this, but any info would be appreciated.
I was explained that it was for emergency funding. I am interested in what others think as well!! please email me privately the name of the company… I wonder if it is the same one I heard of…