With foreclosures exploding everywhere, many Americans are dealing with the fact that they bought houses they just
couldn't afford. Few things are worse than losing your home. Anyone who has experienced foreclosure will telly you that
it is an absolute nightmare The banks have it difficult as well. They have to remove these big pricey houses off their records. If they don't, they pay for the foreclosure process, opening costs and attorney's fees. Foreclosing is not fun for anyone.
But today I want to show you a little tip on how to earn cash on short sales that would usually be passed over by the banks. And believe me this happens all the time. Its something called the "Deed in Lieu." What you may not be aware of is that many banks will actually accept the deed for a house as a settlement for what the borrower owes.
Most people would be surprised to learn that many banks will actually accept the deed in cancellation of the borrower's mortgage as a settlement for what the borrower owes. So most banks will actually accept the deed so they won't have to pay for the foreclosure process and attorney's fees and opening costs etc. (they will quite often pay $1000 - $3500 for the deed).
So what does that mean for you? It means that you can cash in on EVERY single short sale deal that comes your way when you
understand how the Deed in Lieu process is structured. (Even the deals that most investors would pass up as being a dud.)
Its a win/win because if its a killer deal you make BIG money on the short sale. If its not, then you can usually get at least $1000-$3500 per deal using the Deed In Lieu wholesale real estate marketing. - 29971
couldn't afford. Few things are worse than losing your home. Anyone who has experienced foreclosure will telly you that
it is an absolute nightmare The banks have it difficult as well. They have to remove these big pricey houses off their records. If they don't, they pay for the foreclosure process, opening costs and attorney's fees. Foreclosing is not fun for anyone.
But today I want to show you a little tip on how to earn cash on short sales that would usually be passed over by the banks. And believe me this happens all the time. Its something called the "Deed in Lieu." What you may not be aware of is that many banks will actually accept the deed for a house as a settlement for what the borrower owes.
Most people would be surprised to learn that many banks will actually accept the deed in cancellation of the borrower's mortgage as a settlement for what the borrower owes. So most banks will actually accept the deed so they won't have to pay for the foreclosure process and attorney's fees and opening costs etc. (they will quite often pay $1000 - $3500 for the deed).
So what does that mean for you? It means that you can cash in on EVERY single short sale deal that comes your way when you
understand how the Deed in Lieu process is structured. (Even the deals that most investors would pass up as being a dud.)
Its a win/win because if its a killer deal you make BIG money on the short sale. If its not, then you can usually get at least $1000-$3500 per deal using the Deed In Lieu wholesale real estate marketing. - 29971
About the Author:
For more great marketing tips for your wholesale real estate business, visit Wholesale Real Estate, then visit Michael Kimble's blog for videos, atWholesale Real Estate blog.
