Foreclosure University recently announced that they have transactional funding available for investors. This can be used on any back-to-back closing in all 50 states regardless of whether it is for short sales, wholesale deals or reo's.
This gives investors another option when trying to fund the deal in order to sell to an end buyer. Transactional funding has become increasingly popular amongst real estate investors since title companies decided to "stop" allowing transactions that were not independent of each other.
Jarad at Foreclosure University commented on this saying, "At one time, title companies would allow investors to use their end buyer’s money to fund the transaction with the seller. That's not the case anymore. They want each transaction to stand on it’s own independently."
These stricter title standards forced investors to get their own independent funding to fund the transaction with them and the seller. The majority of investors require transactional funding because it allows them to accomplish what they need at a low cost. There are many benefits to transactional funding, one of which is that there is no need to provide employment verification or to worry about credit because it's irrelevant. It also allows investors to leverage someone else, enabling them to do multiple deals on time. Transactional funding is only used for back-to-back closings and shouldn't be confused with other kinds of funding.
Jarad went on to say, "Most of the deals we fund are short sales, reo’s and wholesale deals and in all cases we have end buyers lined up ready to fund their part."
Another benefit to this type of transactional funding is that Foreclosure University offers actual proof of funds letters that are required for the banks. In addition Foreclosure University has created a video to enable investors to more fully understand how the process works and what they can expect from transactional funding.
Anyone interested on finding out more information on how transactional funding or proof of funds can work for them should visit ForeclosureUniversity.com.