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Updated about 8 years ago on . Most recent reply

Account Closed
  • New Bedford, MA
3
Votes |
28
Posts

Question about conflict of interest

Account Closed
  • New Bedford, MA
Posted

I have a mortgage broker who seems intent on actively steering me away from any rehab properties and into "retail" level properties. I have also learned that he is a flipper himself in the same area that I am looking at. While I have no direct evidence of any type of malfeasance, the appearance of a conflict of interest seems pronounced. I am interested in other peoples take on the issue. Am I being paranoid? Is this a reportable issue (and to whom)? Should I cut and run?

Thanks for any advice! 

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,509
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

He may only offer traditional conventional/FHA loans which most rehabs won't meet condition requirements for financing.

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