False statements on a loan app is a federal offense, so they could probably send a lot of people to jail if they take all those cases to court.

Also, he had just admitted to multiple counts of felony fraud.Lying on a mortgage application (including those for home equity products, which are second mortgages) is generally a federal offense and is usually investigated by the FBI, sometimes assisted by state law enforcement.

I like the yellow letter, but think the second letter is a mess (no offense).

@James GreenNo offense, but your business model seems shady to me.

Thank you in advance, and I don't mean offense by saying "slumlord," in case that bothers anyone.

That is why I hate it.Most importantly and no offense to your buddy helping you out.NEVER "just" listen to anyone blindly to do DMM or anything this important really.Also chances are they are not in your market so its risky to have someone else help.This DMM is way too expensive.

No need to be so testy, no offense was intended.

lol No offense taken though.

@Bryant Moran  please take no offense but your asking some really basic questions that you should have solid answers for before you waste time energy and money trying to do RE deals

No offense...but you’re paying down a 3% mortgage with money that could earn 7-10% elsewhere for the sake of phantom cash flow