- Dołączono
- 4 Lip 2022
This would exactly be Greers problem as we saw with ViaTron. He cannot ever quit when he is ahead. Hell, he does not quit even when he's behind.The key with so many frauds is you can get away with it as long as everything is going up - the problem is once you're on the fraud tiger you will find it very hard to dismount cleanly.
Nobody cares if you borrow $400k against a $200k house via fraud and it goes up in value to $600k.
Most banks have contracted appraisers do desktop appraisals for every property they lend against, even for shit like HELOCs. Its much harder to over borrow on real estate than it used to be. I have seen this done more frequently nowadays with vehicle loans, but you better have low Debt to Income if you want to try that route.
It'd be easier ( and more illegal) to just see if you can social engineer the banker and fakeout the underwriter with phony statements and pays tubs and hope you can get an override on the lack of credit history. Though I'm sure there are services that will make phony reports to the bureaus to spoof credit worthiness.
Its alot of work though and he could much more easily become somesort of pathetic pimp if he'd just save his cash and tried the duplex or quadplex idea you mentioned.