Real estate blog entries tagged with mortgage fraud by Richard Weisser, Richard Weisser Retired Real Estate Professional (Richard Weisser Realty)

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mortgage fraud: “Here’s how we’re going to get around that…” - 06/14/12 10:08 PM

I get several calls a week from would-be real estate purchasers who have one or more issues with obtaining a loan at this time.
Invariably, when I suggest that they consult with a loan officer about correcting their situation, they respond with something along the lines of:
“Here’s how we’re going to get around that…”
STOP! Before you narrate your scheme!
Let me tell you this: I have heard it all before. Your idea is NOT unique or original. Your plan is NOT a workaround.
It is mortgage fraud. Plain and simple.
I will not be an accessory to it.
Here’s … (31 comments)

mortgage fraud: Please don’t ask me to help you beat the system. I’m in this business for the long haul! - 08/10/10 01:12 AM

It seems like lately I get more and more phone calls from frustrated prospective buyers that wish to capitalize on the low prices of houses in our area combined with some pretty amazing low interest rates.
The problem is, these would-be investors don’t qualify for an owner-occupant loan, but at the same time, do not wish to pay either the additional down-payment or the higher interest rates for loans on investment property.
So they ask me to come up with a workaround to help them beat the system. And I have an answer for them.
NO! Do they honestly think that … (81 comments)

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