Buy and Bail Can Kill Even the Most Qualified Buyer IN Escrow in Alameda

By
Mortgage and Lending with Caliber Home Loans NMLS# 242952

Buy and bail is the result of buying a new home with the intention of bailing on the old. It is considered mortgage fraud. A Borrower must have 30% equity AND two years of Rental Income to use market rents on their current property.

If you have questions comment below or give me a jingle! Please forward if you know someone who could benefit.

http://the-buzzz.com/2012/01/14/buy-and-bail-can-kill-even-the-most-qualified-buyer-in-escrow-when-moving-to-alameda/

http://www.youtube.com/watch?v=EnsY8p6ugG8&list=UUYaeeFGDw9mMlseItLXHf1A&index=1&feature=plcp

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Rainer
28,056
Robyn Heathcock
IRG Real Estate - Frisco, TX

Good article, there is so much of this going on in our area too.  Buyer are being told it is ok!

Jan 17, 2012 08:35 AM #2
Rainmaker
791,395
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

My comment seems to have disappeared.. I did agree with you.. just reminded that individual investor's overlays will vary.

Jan 19, 2012 02:44 AM #3
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Rainmaker
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Garrick Werdmuller

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