equity lenders 5 posts by 4 users

Posted: 07/06/2008 at 04:44PM

Fraud defined: intentional deception resulting in injury to another person, imposter; a person who makes deceitful pretenses; something intended to deceive; deliberate trickery intended to gain an advantage. If you do not deceive you are not committing fraud. You must disclose where the funds are coming from. These types of transactions conventional lenders will frown upon but if you go the private or hard money route many times they will not care. [EDITED BY MODERATOR - Solicitation removed.]

Posted: 07/27/2008 at 07:46AM

aramon:

Many lenders require you to use your " own" money, but it doesn't necessarily define what " own" money means. You can receive down payment monies in form of a gift from a friend or family member.

A DP service would be excellent, if utilize appropriately. The key is the amount of equity in the property. In order to utilize DP service to help with down payment, you need a cushion of at least 20 to 40%.