It sounds suspiciously like the original seller credited back the $142K (20% of $710K) and maybe split it with the new buyer who paid $568. Now, they rent it out (maybe without making any mortgage payments), collecting the rent money while lenders are swamped with foreclosures & are bogged-down.
It would be very interesting to see their payment history.
I suspect you’re right. They haven’t paid a dime on that place. Just delaying the banks by seeking refinance over and over and over again, all the while just renting it out.
I suspect you’re right. They haven’t paid a dime on that place. Just delaying the banks by seeking refinance over and over and over again, all the while just renting it out.
I suspect you’re right. They haven’t paid a dime on that place. Just delaying the banks by seeking refinance over and over and over again, all the while just renting it out.
I suspect you’re right. They haven’t paid a dime on that place. Just delaying the banks by seeking refinance over and over and over again, all the while just renting it out.
I suspect you’re right. They haven’t paid a dime on that place. Just delaying the banks by seeking refinance over and over and over again, all the while just renting it out.
