Financing in Anaheim>Question Details

Squid, Home Buyer in Los Angeles, CA

any legit Short Sale Refi brokers out there?

Asked by Squid, Los Angeles, CA Wed Jul 14, 2010

From the internet research I have done it seems there are a lot of scams/rip-offs surrounding Short Sale Refi transactions. Are there any legitimate/honest brokers who are doing this type of transaction? If so please post contact info. This is for a friend of mine who would like to attempt this type of transaction on his house.

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Hello, and thanks for posting. We have been negotiating Short Refinance's for 2 years. We have 25 succesful cases and currenty have 14 Lenders/Investors Participating in the program. As you mention there are alot of scams regarding modifications and short sales. Please contact our office located in Anaheim California to see if your lender is participating or vist us on the web at
0 votes Thank Flag Link Tue Jan 18, 2011
sorry, i meant "short pay refi". not "short sale refi".
0 votes Thank Flag Link Wed Jul 14, 2010
If you are trying to Short Sale, you are asking the bank holding your mortgage to accept current retail value as a sale price of the home which in this market is far less than the mortgage held by the bank. There fore the bank is being "shorted" on the sale of the home- Short Sale.
Refinancing is a different situation. There are some companies that are buying the home short sale, holding the note and leasing the property back to the homeowner at a considerably less mortgage payment... BUT the investor holds the note... the investor owns the home... the investor is the landlord of your house and you are a renter.

If you want to Short Sale, you need a real estate agent who has lots of experience with short sales. These are very hard to close because the banks are not cooperative. A straight Refi is even harder right now. If you want to rent your own home from a note-holding investor, they're a dime a dozen. Keep asking questions, you'll find the right answer for you.
0 votes Thank Flag Link Wed Jul 14, 2010
I suspect you meant to inquire about loan-mod/refi brokers, because the seller for a short-sale wouldn't need to refinance. Although I'm not sure whether you'll find any brokers who do this, I know of several investors (myself included) who do this.

Also keep in mind that this isn't the only way for your friend to handle his/her transaction. There are other ways to structure this deal. However, one would have to know more to be able to advise him/her further.

Please feel free to drop me a line.
0 votes Thank Flag Link Wed Jul 14, 2010
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