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Real Estate News Releases
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(EMAILWIRE.COM, April 07, 2010 ) Florence, KY – One day funding is sought by many real estate investors who are working with distressed homeowners to get approval for a short sale. Transactional lender and short sale investor, Jodi Funke, specializes in providing one day funding for short sale closings. Jodi recently attended a meeting for real estate investors where the topic of conversation was “property flipping.”
One investor asked if property flipping was legal and ethical. Jodi explained, “Property flipping is a practice where the seller purchases a property and then immediately resells resells it for a large profit. In some cases the seller will inflate the value of the property with the help of an unethical appraiser. This is the reason for the strict guidelines that have been put in place within FHA mortgage insurance programs.”
Jodi gave an overview of the property flipping policy indicating that only owners of record may sell properties that will be financed by FHA insured mortgages and any resale of a property requires 90-day seasoning. When sales occur 91 – 180 days after the purchase at a price exceeding 100% of the first sales price, FHA will require documentation validating the property’s value.
Guidelines are in place to discourage real estate scams and mortgage fraud which have increased significantly in the last few years. Jodi advised real estate investors to be careful who they are working with to avoid being involved in any illegal activity. “If the deal sounds too good to be true, it probably is,” said Jodi. “When unethical real estate transactions occur all parties involved are held accountable.”
Jodi is a transactional lender who provides one day funding for the investor to purchase a property on a short sale and sell the property for a profit the same day. Their team of real estate professionals, attorneys and title companies are experienced at handling these transactions while working at the highest level of integrity. Visit http://www.cashforshortsales.com to learn more.
Contact:
Jodi Funke, Transactional Lender
Oroton Equities
7657 Mall Rd
Florence, KY 41042
859-594-4357
info@cashforshortsales.com
This press release was submitted by Right Now Marketing Group, LLC
Oroton Equities
Jodi Funke
859-594-4357
info@cashforshortsales.com 
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