If you say no, and sign that application (it's on the 1003 loan application) and you lied, it's an attempt to obtain a mortgage loan under fraudulent terms/conditions.

It appears to be an attempt to collect a fraudulent down payment.You can also post on CL with a link to the add that it is a scam, warning people.

To lie that they lived there could end up with you filing a fraudulent return, subject to a penalty of over 25% of the under reported income.

Yes, I see the bad lending practices of the last decade as the single biggest contributor to the housing bubble and collapse.Inflated and fraudulent appraisals were just a piece of the bad lending problem.

They are gambling purely on price appreciation and they are doing it BIG TIME!

Doing anything without disclosure is questionable if not fraudulent in my opinion.

To me, that's the same logic - you may eventually sell the house as a FSBO, but do you really want to take the gamble that the carrying costs on a FSBO won't exceed the realtors fees?  

Account ClosedThat sounds more like speculating/gambling - I am not looking to do that.  

I got into a fantasy football pool with my real estate agent and he self appointed himself as the treasurer and held $480 to pay out the winner. I won the championship and he now owes me $280 and has not paid me in tw...

It sounds rather fraudulent to me, but I'm not going to pay the $499 to learn what this AMAZEBALLS concept is.