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subject: Real Estate Investing [print this page]

How to Close a Loan in 3 Days, by HMB
How to Close a Loan in 3 Days, by HMB

Ok, let me preface this by saying that

we dont like to do this all the time

and we cant possibly do this with every

loan but

We can easily close a loan in 3 days

on the right deal with a prepared

borrower.

Here is how it went down:

Jason got a call late Thursday before

Thanksgiving from a borrower we have

never worked with before saying he

absolutely had to close his loan on Tuesday.

And mind you this is the Tuesday before

we all take off for a nice holiday break.

It just so happened the borrower was very

organized, professional and the deal was a

strong one.

Thursday:

-Loan app, contractor bid, sales contract, etc

turned in to Jason

-Appraisal/BPO fee paid

-We pull credit and comps

-BPO and title ordered (RUSH)

Friday:

-Jason inspects property (we always do)

-A couple other documents turned in

Monday:

-BPO and title come in (both clean)

-Property insurance comes in

-Loan documents prepared by our attorney

Tuesday:

-Wire sent from us to title company

-Borrower signs documents

-We all break for Thanksgiving

It was a great loan for a solid borrower

done in a short amount of time. Of course,

they arent all that quick and easy but it sure

would be nice if they were.

If you have a strong loan that needs to close quickly,

dont hesitate to apply. We have some more funds

to lend out in the next couple weeks before the holidays.

Apply here now:

http://hardmoneybankers.com/loan-application

Happy Investing! (get one more deal in this year :) )

by: Harold M Banker

welcome to loan (http://www.yloan.com/)