Castle Rock Law Firm Robinson & Henry, P.C. Rolls Out the Bankless Financing Program®

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Robinson & Henry, P.C. has inaugurated the Bankless Financing Program, or BFP for short to help increase home sales in Colorado. The buyer can buy and the seller can sell, without need for a bank or mortgage company.

We have seen the need for a new method to allow homes to be sold and we believe that the Bankless Financing Program® will satisfy that need. In Douglas County, Colorado, the number of real estate conveyances has dropped to only one third the volume of a few years ago. This can't go on. The current mortgage backed system is obviously broken and we want to be part of the solution

The Castle Rock, CO Law Firm of Robinson & Henry P.C. announced today that they are inaugurating the Bankless Financing Program also known as the BFP® to increase home sales in Colorado. The Bankless Financing Program® allows a Home owner to sell his property and a Home buyer to buy the property without need for a bank or mortgage company to be involved.

"We have seen the need for a new method to allow homes to be sold and we believe that the Bankless Financing Program® will satisfy that need. In Douglas County, Colorado, the number of real estate conveyances has dropped to only one third the volume of a few years ago. This can't go on. The current mortgage backed system is obviously broken and we want to be part of the solution," Mike Robinson, Sr. Partner at Robinson & Henry said.

Under the BFP®, the buyer makes payments to a Licensed Escrow Corporation which in turn makes all required payments to the underlying encumbrances on the property. Because of recently passed federal legislation, a working couple can make the purchase down payment with funds from their tax sheltered account such as an IRA without penalty and have the income tax issues satisfied with a federal tax credit. The BFP® addresses current difficulties caused by appraisal and credit issues for both buyer and seller.

Robinson & Henry is hosting a kickoff meeting at the firm's Castle Rock office for all members of the Douglas Elbert Board of Realtors on Tuesday, July 21, 2009 from 4-7 pm. At the kickoff, the law firm will provide a complete manual explaining the BFP® process and including sample legal forms for use in purchasing and selling a home. Those interested in attending the kickoff may contact the law firm at the following address: Robinson & Henry P.C., 757 Maleta Lane, Castle Rock, CO 80108, ph. 303-688-0944, email at reception(at)robinsonandhenry(dot)com.

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