Double Escrow Alternative Funding Questions & Answers

Myrna:

Thanks for continuing this conversation. 

If the lender instructs to not allow double escrow no escrow officer will do it.  That would be illegal.  In that case the buyer needs to bring cash.  That is the reason we are offering Double Escrow Alternative Funding.  It is called "alternative" because the buyer is not really doing a double escrow.  The buyer is paying for the property and re-selling it.  If there are escrow instructions not allowing this, then there is no deal.  That is rare.

Keep in touch.

Oscar

At 01:27 PM 8/15/2008, you wrote:

Thank you Oscar.  I am amazed how irresponsible title and escrow companies not complying with the lender’s instructions not allowing any double escrows. Integrity matters when you are doing your fiduciary responsibility to your clients including the lenders.  I can see how many people get rich by doing this and I am awed.
 
Myrna R.

On Fri, Aug 15, 2008 at 1:22 PM, Oscar Morante <oscar@bestshortsales.com> wrote:

Myna:

Thanks for your feedback.  In a short sale the discounting creditor needs to be paid as per the settlement agreement.  That is what they get paid.  What happens later is another subject.  There are plenty of title companies and independent escrow doing this in California and nation wide.  I keep the names confidential. 

I do appreciate your opinion and enjoy these email exchanges.

Sincerely,

Oscar

At 12:40 PM 8/15/2008, you wrote:

Profiting more and paying off the lender after a property is purchased is not allowed by any lender, therefore, it is illegal.  Please let me know whom you are dealing with in California, specially title companies that allow this type of transaction.  I would like to know.  Thank you.

 

Myrna R.

On Fri, Aug 15, 2008 at 12:37 PM, Oscar Morante <oscar@bestshortsales.com > wrote:

Myrna:

Thanks for your feed back.  We have closed a number of this transactions in California recently.  Please let me know where is it written that it is illegal to buy a property with money and re-sell it.  I will read the material.

Sincerely,

Oscar

At 12:32 PM 8/15/2008, you wrote:

Being an escrow officer for 27 years, I do shy away on double escrow transaction.  It is against the law to transact a business this type of business in the State of California. 

 

Myrna Reyes

 

On Fri, Aug 15, 2008 at 11:49 AM, Oscar Morante <oscar@bestshortsales.com > wrote:

Dear Friends:

I am glad so many of you are active in the Short

Sale Biz.  This business is booming.

Double Escrow Alternatives

One of the things I do is provide double escrow

alternative funding.  The rate is 3%.  Contact me

if you have a double escrow that requires

acquisition money funding.  Some title companies

get cold feet when they see this kind of re-sale

profits.  Our rate is 3 points and can fund

within as soon as 72 hours.  If you give me more

time better.  We also have the right escrow

contacts to close your transaction just about

anywhere nation wide.

Example:

We just funded a double escrow alternative in

which our client earned just short of $400K.  I

felt envious! The client brought a ready to go

deal.  At the last moment the title company got

scared of him making that much money and was

about to trash his deal.  We provided the money,

expert escrow attorney service and RAPID ACTION.

The result:  The client walked home with a huge

check.

Contact me if you need any such funding at

oscar@bestshortsales.com

Please provide the following:

1- Acquisition contract

2- Acquisition settlement statement

3- Re-Sale contract

4- Re-Sale settlement statement

Real estate transactions are perishable items.

Because of this we will reply you very soon and

let you know either way about what we can do for

you.

Within 10 days we will have a double escrow

alternative web meeting.  Email me at

oscar@bestshortsales.com if you would be

interested in attending.

I look forward to doing more business with you.

Sincerely,

Oscar

Bestshortsales.com

9220 SW Barbur Blvd

Suite 119 - Box 159

Portland, OR

97219

US

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–

With much aloha,

Myrna T.F. Reyes

San Diego Central, Inc.

www.SanDiegoCentralRE.com

myrnatfreyes@gmail.com

Member: BBB, SDAR, PSAR, CAE, NNA and FACCSD

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