Marion as you can see I dig down into finding facts for myself. Generally after analysis one can find the root cause of any reasonable exception. That is how it works in engineering.
I apply that fundamental to real estate and it works. Thus when I hear of an exception to the rule which I have understood for a few years now, I find out the details to fully understand it. Then it makes sense to me.
Again, under these auspices I have not seen anyone walk away with large checks written to them at the close of escrow when a common institutional lender is used for financing. There may indeed be a loophole as my knowledge is far from all encompassing and I am yet a pup. I would venture to say if it is not fraud it is very close to fraud, and those that have practiced it most likely cannot practice it todays environment. Now whatever happens AFTER escrow or out of escrow is fair game, (though most likely not legal).
Finally without the details all I can go on is a posting on an internet blog which does not cut it for me personally. If you want to come up with a HUD or be more descriptive then that will help. If you find out some of the details perhaps we can piece together how he did it.
