is the new Smart Move to BUY a home for strategic default?

[Coronita]

Stocks, I’m sorry, but I’m pretty sure you’re full of it on this one. While I don’t doubt if you were single, you might be willing to do this, but I’m pretty sure your spouse won’t let you, unless she’s anything but traditional…

Besides, we’re really not talking a crapload of money here 2-3 years of free rent. The 4/2 rents for about $2700/month… So for argument sake, let’s just say rent is comparable to mortgage payments ( I know they aren’t in the bay area)…You’ll talking about fvcking your credit over $65k roughly. Sorry, that ain’t worth it.

[Coronita]

[quote=andymajumder]I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.[/quote]

I really hope you folks don’t think I was serious…

AINT GONNA WORK….

It’s called “strict appraisals”… Though housing in bay area is still crazy, it’s not as crazy at those levels…

And no, I don’t want to be the guinea pig seller. Thanks, but no thanks. I’m pretty happen with the tenant right now…

[Coronita]

[quote=andymajumder]I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.[/quote]

I really hope you folks don’t think I was serious…

AINT GONNA WORK….

It’s called “strict appraisals”… Though housing in bay area is still crazy, it’s not as crazy at those levels…

And no, I don’t want to be the guinea pig seller. Thanks, but no thanks. I’m pretty happen with the tenant right now…

[Coronita]

[quote=andymajumder]I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.[/quote]

I really hope you folks don’t think I was serious…

AINT GONNA WORK….

It’s called “strict appraisals”… Though housing in bay area is still crazy, it’s not as crazy at those levels…

And no, I don’t want to be the guinea pig seller. Thanks, but no thanks. I’m pretty happen with the tenant right now…

[Coronita]

[quote=andymajumder]I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.[/quote]

I really hope you folks don’t think I was serious…

AINT GONNA WORK….

It’s called “strict appraisals”… Though housing in bay area is still crazy, it’s not as crazy at those levels…

And no, I don’t want to be the guinea pig seller. Thanks, but no thanks. I’m pretty happen with the tenant right now…

[Coronita]

[quote=andymajumder]I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.[/quote]

I really hope you folks don’t think I was serious…

AINT GONNA WORK….

It’s called “strict appraisals”… Though housing in bay area is still crazy, it’s not as crazy at those levels…

And no, I don’t want to be the guinea pig seller. Thanks, but no thanks. I’m pretty happen with the tenant right now…

[andymajumder]

[quote=flu][quote=andymajumder]I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.[/quote]

I really hope you folks don’t think I was serious…

AINT GONNA WORK….[/quote]

no…we know that, I am sure stocktrader isn’t either.

[andymajumder]

[quote=flu][quote=andymajumder]I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.[/quote]

I really hope you folks don’t think I was serious…

AINT GONNA WORK….[/quote]

no…we know that, I am sure stocktrader isn’t either.

[andymajumder]

[quote=flu][quote=andymajumder]I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.[/quote]

I really hope you folks don’t think I was serious…

AINT GONNA WORK….[/quote]

no…we know that, I am sure stocktrader isn’t either.

[andymajumder]

[quote=flu][quote=andymajumder]I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.[/quote]

I really hope you folks don’t think I was serious…

AINT GONNA WORK….[/quote]

no…we know that, I am sure stocktrader isn’t either.

[andymajumder]

[quote=flu][quote=andymajumder]I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.[/quote]

I really hope you folks don’t think I was serious…

AINT GONNA WORK….[/quote]

no…we know that, I am sure stocktrader isn’t either.

[briansd1]

[quote=andymajumder]
Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.[/quote]

You can still try to buy your friend/relative’s house on a short sale.

Short sale your house to a friend/relative, get a kickback, then buy it back some years later.

[briansd1]

[quote=andymajumder]
Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.[/quote]

You can still try to buy your friend/relative’s house on a short sale.

Short sale your house to a friend/relative, get a kickback, then buy it back some years later.

[briansd1]

[quote=andymajumder]
Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.[/quote]

You can still try to buy your friend/relative’s house on a short sale.

Short sale your house to a friend/relative, get a kickback, then buy it back some years later.

[briansd1]

[quote=andymajumder]
Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.[/quote]

You can still try to buy your friend/relative’s house on a short sale.

Short sale your house to a friend/relative, get a kickback, then buy it back some years later.

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