As a well respected Broker and Investor, I have too much to lose to deal with fraudulent activity.

But he also ran a hedge fund that U.S. prosecutors said racked up $50 billion of fraudulent losses.Madoff told senior employees of his firm on Wednesday that "it's all just one big lie" and that it was "basically, a giant Ponzi scheme," with estimated investor losses of about $50 billion, according to the U.S.

Worth a $50 gamble on good cheer to me!

The gamble did not pay off.

I have never really received a clear explanation.I would assume they are to prevent some fraudulent activity that has been experienced in the past with refi cash outs, but the banks have seasoning issues to protect from that now anyway.

Hi, All,Just a quick post, in hopes that even one person might be warned away from what I experienced.I just went thru a lot of lost cash and pain dealing with a fraudulent Credit Repair Agency (per FTC).The reason I'm posting this is just to hopefully help someone else by warning them away from these companies.Let's just say i wish someone had warned me about just ONE of the 36 companies described in this pdf file from the Federal Trade Commission....http://www.ftc.gov/os/2008/10/081023sweeplist.pdfVernHere is an example I found posted on the web, described in this FTC document...I3SOLUTIONS.NET, GENE SCHWALEN: Cease & Desist issued to i3Solutions.net, Merle Eugene Schwalen III, by NC Attorney General.Item 1.

If the executor of the estate finds out s/he will justifiably demand a refund.If you cannot comply you may experience some unpleasant litigation, as well as potential criminal charges.Are you really willing to gamble a judgement and lien against your 30-unit apartment building?

Just buying assets at .50 cents on the dollar or better... stay deleveraged..Why would you leveage personally... that defeats the purpose of what you are trying to accomplish..Ie... alot of books and people teach when starting out... to pull cash out of their personal residence...That's gambling yoru sole goal is to get personally free of debt or at a very debt to income... 30% or less or so...So, you build a business that uses leverage to create or find equity and duplicates... and then get equity out...Imagine you were back in times... and you found out you could mine for gold...You go out and find gold... and then put it on the shelf hoping one day it would be worth more... well of course it will....but, the moment you found it... is the moment of highest return...

It's such a gamble.

Just as long as the deal did not involve lying, and if all aspects of the sale were fully disclosed, then the transaction will probably not be labeled as fraudulent".While prospects of fraud do exist in short sale transactions these deals are being funded every day by national title companies.