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Step 7: Closing on the Home
When a mutual agreement is reached, and a contract is signed between the seller and HELP, the property will be closed. At this point, HELP will provide 20-30% (depending on the terms of the warehousing line) of the purchase price of the property with the remaining 70-80% being taken from a warehousing line. The home will be titled in the names of HELP Holding, LLC by which it is owned and will remain titled as such until the homeowner is qualified for a traditional mortgage and exercises his right to purchase the property.
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