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Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,590,259 times
Reputation: 677
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Of course I condon his action. Have you not paid any attention? Any rational individual would condon his action. Only the right wing libertarians are bothered by it. He is terminating a contract in an allowed way. Why on earth would I disapprove?
Maybe. But the way he's OBTAINING the new mortgage isn't. That's mortgage fraud. And I believe that's a felony.
Maybe. But the way he's OBTAINING the new mortgage isn't. That's mortgage fraud. And I believe that's a felony.
Nope. Not a single fraud is involved. He answers every question truthfully. Note that in fact there is nothing wrong with the new deal. It is the prior one that is in trouble. And when he lets go of the old house he actually improves his ability to pay off the new one.
If you ever really want to find mortgage fraud just check out the number of investors with owner occupied mortgages. Probably start a half million felony actions if the prosecutors were of the mind. I would bet that more than half the investor mortgages in Las Vegas required owner occupancy.
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,590,259 times
Reputation: 677
Quote:
Originally Posted by olecapt
Nope. Not a single fraud is involved. He answers every question truthfully. Note that in fact there is nothing wrong with the new deal. It is the prior one that is in trouble. And when he lets go of the old house he actually improves his ability to pay off the new one.
If you ever really want to find mortgage fraud just check out the number of investors with owner occupied mortgages. Probably start a half million felony actions if the prosecutors were of the mind. I would bet that more than half the investor mortgages in Las Vegas required owner occupancy.
Quote:
There are two types of Mortgage Fraud: fraud for property and fraud for profit. Fraud for Property, also known as Fraud for Housing, usually involves the borrower as the perpetrator on a single loan. The borrower makes a few misrepresentations, usually regarding income, personal debt, and property value or there are down payment problems.
What was that you were saying about "renting" his other property to get a loan for the new place? If that's NOT fact, that's misrepresentation. Misrepresentation=fraud. There is no gray area.
Nope. Not a single fraud is involved. He answers every question truthfully. Note that in fact there is nothing wrong with the new deal. It is the prior one that is in trouble. And when he lets go of the old house he actually improves his ability to pay off the new one.
If you ever really want to find mortgage fraud just check out the number of investors with owner occupied mortgages. Probably start a half million felony actions if the prosecutors were of the mind. I would bet that more than half the investor mortgages in Las Vegas required owner occupancy.
Aint that the truth. We live in a take what you can, while you can world. Lying makes the money go around.
Yes I agree. However, more and more, everyday, integrity goes down the drain. It is replaced by uncontrolled greed and people playing the "victim" and wanting others to bail them out. A small condo or ranch home is not good enugh for people-they need the 2500 sq foot home. Who cares if down the road they cannot afford the mortgage-someone will bail them out.
If you can truly afford the huge home-fine-more power to you. However, don't expect me to bail you out through tax $$ or a weakened economy because a 2 bedroom condo was not good enough for you.
Yes I agree. However, more and more, everyday, integrity goes down the drain. It is replaced by uncontrolled greed and people playing the "victim" and wanting others to bail them out. A small condo or ranch home is not good enugh for people-they need the 2500 sq foot home. Who cares if down the road they cannot afford the mortgage-someone will bail them out.
If you can truly afford the huge home-fine-more power to you. However, don't expect me to bail you out through tax $$ or a weakened economy because a 2 bedroom condo was not good enough for you.
Nicolem
Hey I bet you think the moon landings were fake...don't you?
Hey I bet you think the moon landings were fake...don't you?
As a matter of fact I do. I also think the earth is flat.
Whatever.
Nicolem
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"It's just business" to walk away from your loan.
