risk in this transaction.

來源: work_hard 於 2006-07-20 11:43:53 [] [舊帖] [給我悄悄話] 閱讀數 : (870 bytes)
本帖於 2006-07-30 12:52:24 時間, 由版主 單身老貓 編輯
回答: could be frand. Don't do it. 由 work_hard 於 2006-07-17 08:20:40

From bank view, it is a fraud. They are trimming the $30K equity, by cheating the bank of value of property. How much you are selling? Which state you are in? My bank listed a few state, Florida, Nevada as high fraud region.

Problem is:
they don't have job (income)
they are foreigner.
they apply the max loan they could get.
they got help from broker, and you to cheat bank.
they just come to this area??? Do you know?

What I cencern is what they will do next:
common schema is called equity trimming and flipping:
They soon sell the property to another fake buyer, say at $50K-100K more, with max loan. same practice, money paid under the table. Then sell it again. Then last buyer default. They pocket a lot of money and leave. It cause big loss for the bank.

Suggest you to ask a lawyer for any risk you may have.

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