Ignorance is the best defense, but make sure you are actually ignorant to that fact. 

She is on SSI and thinks she can use that as a defense.

I was at a conference in San Deigo and talking to a high volume flipper in LA that of course is competitive  700k average exit  15k average net profit after all over head and cost of marketing etc... so who is going to do that.. well they do because hey did 70 last year.. still tough way to make 1million dollars.. with a boat load of risk.. 

Todd Dexheimer I was just at the Old Capitol Multifamily conference in Dallas and all of the lenders echoed that.

They have also been through Noteschool and go to the Expos and other nationwide conferences. 

In the mortgage brokers defense, they were shocked and could not fathom this "new rule" and thus, no one would waste their time or effort if they knew otherwise.

Try the five star conference this summer.

Our area is the beneficiary of the huge government BRAC program, bringing over 4000 new military jobs (along with countless defense contractor employees) to town in the next year.Drop me a PM if you'd like more information.Wes

Provides unified numbers, toll free, robust conference call center for teleconferences, etc.

A Countrywide spokesman said the meeting is closed to the press and is not being webcast.While the outcome is not in doubt, the proceedings lend an aura of secrecy to the final days of Countrywide, which in 2007 made one in six U.S. mortgage loans -- many of which would not get made today.They also provide a contrast to last year, when Chief Executive Angelo Mozilo would spend three hours on earnings conference calls, proclaiming the company he co-founded in 1969 had a "much better chance of success" than any rival to survive the shakeout in housing and credit markets.It won't."