@Wayne Brooks  reading between the lines this could be a classic case of the buyer not understanding the difference between EM deposit and the down payment.Its very conceivable that the broker is conveying to the buyer that the seller wants 40% ( down payment) not EM deposit and the buyer is confusing the two.. this would be extremely common place in a seller carry back transaction... seller wants to know there is significant skin in the game etc. 

The classic book on this is The E-Myth.

Classic phishing scam.

My presumption is we have the classic idea of buy an NPN, modify the loan and then refinance to exit the investment.  

This is a classic example of why many HUD homes are purchased by investors with cash. 

To encourage the newbies and others who may want to learn the art of the No Money Down deal making process, I am inviting everyone to come on this forum to tell us about their classic No Money Down deal"  My final closing statement will be uploaded or linked at the end of this competition.Over the next 90 days, if you have a deal, that you previously did or you completed within the next ninety days, please come on this forum and tell us how you did it, how much you made and what newbies can learn from your experience.

And Jared Vennett as a slick wall street broker who turns whoever Steve Carells character is onto the scheme in a classic "insider screws wall street for their greed, while making a huge profit" scenario.

Alfredo, kudos on your drive to invest and eliminate debt....you have a classic financial management decision...

Pale gray is modern and white is the classic standby.

A classic is Herb Cohen's book, "You can Negotiate Anything."