The smart ones did interest only cash out refi’s short sold to themselves and cashed out again when the market went up.
How does one “short-sell to themselves” without a trusted middleman? AFAIK, short sales have to be arm’s length transactions.[/quote]
Trusted middle man/family/friend.
Other possible schemes.
Let the agent handle the whole thing and get a kickback from the agent and/or the buyer.
I don’t know how much this happened. But with properties going pending with little real marketing. It does make you wonder. I would say I had proof of at least some of it but then someone might want me to give specifics and short of being water boarded I am not going there.
If real estate office walls could talk , I think it would be very interesting.
