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Short Sale Lender wants to see HUD

Home Forums General EHTrust/EHT Topics and Creative Real Estate Financing Short Sale Lender wants to see HUD

This topic contains 2 replies, has 0 voices, and was last updated by Avatar of homebuyadvantage homebuyadvantage 15 years, 8 months ago.

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  • #32

    Hello all,

    I am involved in a short sale that I plan to immediately quick turn to a retail buyer.

    In this short sale that I just got approved, once the lender receives the certified funds, they need to review the HUD closing settlement statement, then they will release the mortgage.

    #6971
    Avatar of bill_gatten
    bill_gatten
    Participant

    1) I’ve read that the assignment of beneficial interest is a transfer of personalty (personal property) not a transfer of realty.

    #6972
    Avatar of anonymous
    anonymous
    Member

    BILL:

    I am somewhat familiar with Brian’s situation allow me to clarify (rephrase what he was attempting to suggest in his post…

    Brian has a Deal with the owner to short sale thi property to an END-Buyer (retail).

    Brian wants to avoid seasoning issues by having Two (2) HUD-1s in order to accomplish the above deal.

    I persume he was asking is there a way for him to use a Simple Trust

    #6973

    Derrick is correct.

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