I had made a contact with a guy who runs a title co. He offended me after I explained to him what I would be doing as a wholesaler. He said NO to me because he said it’s risky and it sounds like I am “equity stripping”. I was so offended that I wrote him a letter stating what I actually did and thanked him for his time so I didn’t ruin my name in my city. To what extent should I get into details about what I am doing? I would think I had to let the title co. know how everything broke down…Anyone?
nothing illegal about assigning a contract…nothing morally wrong about purchasing a home for less than its actually worth to save someone from foreclosure.
assignments are not difficult for title companies. you bring them deals, and limit headaches, and your escrow officers will love you.
You need to be totally honest with your title company. There is nothing illegal or immoral about what we do. Forgive him for his ignorance and shake the dust from your feet. For every one of them there is another that is experienced and professional. That’s the one you want on your team.