Sorry sdhome but I just don’t believe it. In fact if you give me the address of the home I will look it up on the MLS and then go to the sales office to see if they actually wrote a check of 70k to your friend.
Marion – Perhaps your friend gets his financing from investors or other uncoventional sources. Perhaps he gets the cash back through some deal with the sellers. However if we are talking about common lenders again, I don’t see it. If it is a friend of yours then get the details and post them here. Vagaries such as I don’t exactly know how he did it do not wash with me because that implies he either did not do it or he did it illegaly.
It is fraud. Plain and simple.
Everyone always seems to have a friend or a neighbor or know somebody. When it comes down to it though it is fraud. Maybe these people pulled it off somehow. Builders don’t write out 70k checks to people. They give buku incentives in services or upgrades and such.
I will believe it when someone posts here and says THEY DID IT.
