Financing in Littlerock>Question Details

Macgreggor, Home Buyer in Lancaster, CA

Need a cash investor to purchase an REO and do a lease buy back. We will pay monthly then take out a heloc and give investor 50K. Total return aprox

Asked by Macgreggor, Lancaster, CA Thu Dec 17, 2009

100K. Estate already has equity. Sold under market value. Where would I find a private investor for that

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HomeLiberty has a program that is exactly what Macgreggor is asking for. We cash buy the REO property and then sell it back with seller financing. There is no need for goofy HELOC or 3rd party financing.

It's not a lease-buy-back. It is straight sale with a 30 year fixed note.
0 votes Thank Flag Link Thu Jul 5, 2012
I'm with Mack ... how do you get a HELOC on a home you don't own?
0 votes Thank Flag Link Sun Mar 21, 2010
Need more information from you.

Sherry ferfes
0 votes Thank Flag Link Sun Mar 21, 2010

Where you gonna get that HELOC from?
0 votes Thank Flag Link Fri Jan 1, 2010
If the deal is that good, you might be able to find a hard money lender to finance the purchase, but the challenge will be getting a refi loan to repay the purchase loan (seasoning & credit issues). If the property was yours, most investors will probably will leave it alone - "lease options" aren't something that most investors do out here. But good luck either way.
0 votes Thank Flag Link Thu Dec 31, 2009
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