The bears took a beating last Thursday (11/4) in covering their short sales to help propel the three major stock indices to two-year highs. Also adding fuel to the bullish fires was President Obama’s suggestion that he’ll consider extending all of the Bush tax cuts, including those for the wealthiest Americans, which he had balked on before. As Larry Kudlow pointed out on CNBC Thursday evening, this removes what would have been great incentive for investors to sell equities by the end of this year to avoid a feared tax hit. (more…)
Stock Market Wows Us! Still Room to Run?
Thursday, November 4th, 2010Land Trusts–The Answer to Flipping Short Sales?
Friday, January 8th, 2010In today’s real estate market, trying to flip short sales can be problematic.
First, the seller’s lender must approve the contract of sale, which includes approving the buyer. If the lender smells a flip, the contract will not go through.
Second, the end-buyer’s lender likewise will not allow it. The new lender requires a “seasoned” title. In other words, the property deed must already be in the investor’s name and recorded at the County land records for a period of time before the lender will loan the money.
If the investor has not yet gone to settlement with the seller, how can he satisfy this requirement? A land trust may be the solution. (more…)