Joe talking about some sting of an insured banking institution is a conspiracy, you are not a regulator or law enforcement official, citizens may not take it upon themselves to catch any infraction of law or bait any lender into any such activity.I doubt very much that Joe would try to find if a bank was in compliance for the fun of it, it's much more believable that not only would he do it for some self satisfaction (evidenced by his remarks here toward banks and regulators) but also for some financial gain in some settlement of such an issue.Conspiring with any mortgage applicant who knowingly attempts to gain any financial benefit, including attempts to obtain any loan that is not in good faith, true and an honest application, can be conspiracy to commit bank fraud.I'd say not only should you forget that idea but stop talking about it, but you do what you like.I have now gone far and above my civic duty attempting to keep Joe Gore out of trouble. :)

Obviously subsequent loans would not be cash out as no equity would be established in a short period.I refinanced one borrower three times in back to back closings under the same wholesale mortgage banker as interest rates were falling and paid the differences in settlement fees for the borrower!

Forget the 70% rule, I'll settle for less profit and I STILL can't seem to find any good contenders.Four months ago I had four fantastic deals all ready to go after settlement of my then-current house.

(This is what I use in California) The concept is to keep the fact that the property has been transferred private.The sales transaction remains unrecorded i.e. the deed is not recorded or the contract of sale or the financing agreement.The transaction is maintained in the records of a settlement /escrow management companyEnough documentation is recorded to protect the seller and buyer in the chain of title without making the fact that the property was transferred public record Existing loans, taxes, insurance are paid by the buyer into a collection account, which in turn pays all the accounts required to service the propertyRecording a deed or contract is not required in most states to make a valid transferNot disclosing the new sale to the underlying lender is not illegal in most statesKeeping the transfer from the lender is not a crime or against the law.

Ask them to review the trust document prior to settlement to remove the exception on BII prior to settlement.

One closing can close all the properties purchased, negotiate with the title and settlement agent on a better deal.

One of the primary causes would be settlement in the foundation.

Even if the paperwork says his sister gets the money, if it is to pay off his debt, it is still considered income to him.If you pay him with a bag of cash outside of settlement, then when you sell the property you will pay taxes on an additional $30K of capital gains.

The rest I believe is up to your settlement company to dig up and confirm if you're gonna be able to get clear title after the contract is signed...

Meaning they would get paid at settlement and then pay me?