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

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.

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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
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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Garrick Werdmuller

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