121 Scarlet Oak – Mont Claire – Medium-high end fix and flip

Nov 4th, 2015Comments Off on 121 Scarlet Oak – Mont Claire – Medium-high end fix and flip

Great BIG fix & flip in Upper Providence Township…

121 Scarlet Oak Dr. – Mont Claire, PA

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121 Scarlet Oak Dr. Mont Claire, PA

 

2638 sq ft. – French Style 4 Bedroom 2.5 bath Colonial in need of some cosmetics throughout. Needs a new kitchen, a few bath vanity upgrades, some drywall repair, partially finished basement ceiling repair, some landscaping love, and a handful of other spruce ups and you will have a beautiful home here.   Comps for 1800 sq foot homes (900 sq ft smaller) in this development are in the $350,000 range.  With the right upgrades, this one could fetch more than $400,000 after repaired.  Unloading it for just over the mortgage balance… $289k . Available starting 11/5/2015

Call or text Jeremy now to get inside…  215.321.CASH (2274)

 

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The Dodd Frank Act and Owner Financing

Feb 28th, 20121 Comment

The Dodd Frank Act and Owner Financing
Despite there being very few complaints from consumers regarding owner financing, the Dodd Frank Act (as did the SAFE Act) does impact how real estate investors are able to perform selling a house with owner financing. The good news is that the real estate investor won’t really notice any difference in the way they perform their business if they are already following the rules of the SAFE Act. The Title Companies and Licensed Residential Mortgage Loan Originators will have more work to do.

Does the Dodd Frank Act Abolish Owner Financing?
No.
The combination of the SAFE Act and the Dodd Frank Act prohibit real estate investors from taking applications, negotiating terms, and creating a new note unless they are licensed. If the real estate investor is not licensed, then they simply must utilize the services of individuals who are licensed.
While a little more expensive and a little more complicated, selling a house with owner financing is still a viable option under the enactment of this legislation.

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