With all the tightening of lending practices and closings of the first major player in American Home Mortgage, I'm wondering how creative financing will change the game of real estate financing. Will it become more of an accepted practice and will banks start to reconsider their stance on being so against assumable mortgages?
Throughout the entire country, places like New York, California, and other states are seeing a buyer pool that is diminishing by the day, as lenders pull back on the reigns of their lending practices. I know, as a real estate investor myself, how frustrated I was working with agent after agent who talked down "creative financing" and treated any such discussion as a joke.
I think many will find that welcoming some investors into their sphere of influence might pay off sooner than they think.
I think that agents who don't understand the benefits on both ends of seller financing, is just shooting themselves in the foot. There are ways to make a win-win but if the person in the middle doesn't understand it, the client is not represented well and not given choices because of the lack of creative financing knowledge.
Roz Burton-Torres
WA Real Estate Solutions
Direct 425.894.8558
Office 425.825.0121
RozBT@WARealEstateSolutions.com
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