To The Rescue: The Unknown Option Of Private Real Estate Financing
Mr. Ronald Timmons, Founder and Chief Operating Officer of Visionary Holdings LLC, offers a new real estate note finding service to the Charlottesvile, Virginia area, and points beyond. This service is for owners of all types of property.
Online, September 20, 2010 (Newswire.com) - CHARLOTTESVILLE, VIRGINIA: In light of these difficult economic times and the present credit crisis, Mr. Ronald Timmons, Founder and Chief Operating Officer of Visionary Holdings LLC, has announced today that a new note finding service for property sellers will be offered. This service will bring property buyers and property sellers together by creating a professional, educational forum in which private sales can take place, without the aid of a financial institution.
According to various reports, including one from The San Francisco Chronicle, entitled "How Mortgage Market Has Tightened" (September 12, 2010), it has become much more difficult for even prospective homeowners with a steady income and a good credit history to obtain a mortgage. Another report by Reuters, entitled "U.S. Home Value Decline Steepens In January - Zillow" (March 9, 2010), cites dropping real estate values nationwide, making the sale of a house in this depressionary economic climate a dicey proposition. However, Mr. Timmons has stated that his firm's service can help sidestep the problem of a lack of funding from banks, by instead utilizing private financing.
A motivated seller can facilitate a sale by "carrying back" a mortgage, in exchange for selling his or her property. This private mortgage (or private "note") can, in turn, be sold to a "note buyer", freeing up resources for retirement, travel, a child's college education, paying bills, or whatever is wanted or needed by the property seller. In addition, residential, commercial and industrial real estate buyers and sellers can all benefit from this service, according to Mr. Timmons.
Visionary Holdings LLC, founded in 2002, is one of the first companies in the Charlottesville area to offer real estate note finding services to the community. Mr. Timmons, a native New Yorker, and graduate of Bronx Community College, of the City University of New York, presently lives in Charlottesville, Virginia.
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