These are fully underwritten, with appraisals, underwriting your income, etc etc.If you want to hack the system the way I did, you jack up your purchase mortgage interest rate, take a big fat lender credit associated with that jacked up rate, and do the VA IRRRL exactly at the six month mark.

(pigs get fat, hogs get slaughtered was the mantra I adopted)...My realtor, an experienced, graying real estate veteran and I looked at each other.... we both knew this market would not end well and could not go on forever. 

They gradually evolved, adding the payment system and other services as we know today, but the original genes are still there :)

In my area I know of 1 wholesaler that leaves enough fat in the deal that its an actual deal and you could buy, rent, refi out of it.  

The guy who started it is @Gene Hacker who is a home inspector and investor from the Kern River Valley area.  

@Naveen Gene please PM me and I can help you with a HML!

I tracked her down and proposed myself and a fat tuition fee to learn the trade and she accepted.

In Amarillo where I was building previously they called this type of soil “Fat Clay” which was just a way to describe how the soil reacted when it got wet.

Big Fat No!

The other thing as Gene mentioned is, one would think that we are nearing the top and a correction may be coming, who knows though.