Changing funding

[Bert Beattie]

Hey all,

Quick question. We have been working a few short sales for a while and a couple are coming to fruition. We are about to receive the approval letter on both and I had a funding question. I have JVed a couple of deals but have not been involved in the actual signing of the paperwork at the end. With both deals coming we are in a position to personally fund one and us a HML for the other. I am a little concerned that we have represented ourselves as a cash buy when in fact on the one that we now have to use a HML it will be viewed as financed, is that correct? If so what do I need to do to make sure I am not breaking any laws? Or is it simply a matter of a simple switch. They are both short sales and 1 is a Fannie Mae and the other is not.

Thanks

Bert