Don't do Double Close Escrow for Short Sales

[Anthony Clayton]

I have been seening alot of post of how to do double close in CA.

YOU CANNOT OR YOU WILL BE IN JAIL

Detectives label this transaction as "you a perpitraitor". You will be in prison 5-10 years even on the first offense.

As you know they do not like us investors, so they have made a rules on short sales. Short sales are a dangerous game.

To make it easy if you do a SS keep it for CASH FLOW ONLY. Because even if you flip it after 90 days the seller can still go after you.

You want less headaches not more.

[Ryan Webber]

I found this when I searched:

https://www.efanniemae.com/utility/legal/pdf/fraudnews/mortgagefraudnews0709.pdf

I emailed the mortgage fraud department at Fannie Mae about their exact position on this matter and I'm waiting for a response. The newsletter doesn't say its fraud. It says its an inappropriate property flip.

I'm curious what laws it actually violates if any. If you are honest with all parties involved I don't see how it could be fraud. Obviously Anthony's antics are extreme and unfounded but I'd still like to know exactly what Fannie Mae thinks about it.