Comments on: Would You Mind Repeating That? http://www.up2daterealestate.com/2009/04/14/would-you-mind-repeating-that/ Brought to you by Doug and Deena Willis Tue, 29 Jun 2010 22:34:52 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: La Vonne http://www.up2daterealestate.com/2009/04/14/would-you-mind-repeating-that/comment-page-1/#comment-10770 La Vonne Thu, 10 Sep 2009 15:55:36 +0000 http://www.up2daterealestate.com/?p=1722#comment-10770 Doug, I would really appreciate you giving me your opinion on a similar matter. Me and my husband submitted an offer on a short sale back in May 2009 (on the seller's former investment property)which was accepted and since then we had to increase our offer price twice. However, last month we were told by our agent that the seller refused to sign a note for $20K that BOA (they are also financing our loan) was requiring of them, and that she would rather file for bankruptcy, however, if we agreed to pay an additional $5,00O in cash and bring it to closing we can have the house. The $5,000 is suppossedly going to be used by the seller to be paid towards the note, since the bank will suppossedly only take the money from the seller. We are schedule to close in a week,and we really want the house, but we are already paying $20K more than what we originally submitted our offer for and at the same time we do not want to be perceived as committing fraud, and we do not want the bank, to foreclose on the property if they find out about this? What do you recommend? Thanks, La Vonne Doug,

I would really appreciate you giving me your opinion on a similar matter. Me and my husband submitted an offer on a short sale back in May 2009 (on the seller’s former investment property)which was accepted and since then we had to increase our offer price twice. However, last month we were told by our agent that the seller refused to sign a note for $20K that BOA (they are also financing our loan) was requiring of them, and that she would rather file for bankruptcy, however, if we agreed to pay an additional $5,00O in cash and bring it to closing we can have the house. The $5,000 is suppossedly going to be used by the seller to be paid towards the note, since the bank will suppossedly only take the money from the seller. We are schedule to close in a week,and we really want the house, but we are
already paying $20K more than what we originally submitted our offer for and at the same time we do not want to be perceived as committing fraud, and we do not want the bank, to foreclose on the property if they find out about this? What do you recommend?

Thanks,

La Vonne

]]> By: Bill Rice http://www.up2daterealestate.com/2009/04/14/would-you-mind-repeating-that/comment-page-1/#comment-5663 Bill Rice Mon, 20 Apr 2009 18:30:24 +0000 http://www.up2daterealestate.com/?p=1722#comment-5663 Amazing, but not shocking. It seems desperate markets brings out those willing to prey on circumstances. I am working on a series about mortgage fraud, which has me combing through the archives of sites like mortgagefraudblog.com and mortgagefraud.com--it is amazing the acts of brazen cheating and crookedness in the mortgage and real estate market right now. Amazing, but not shocking. It seems desperate markets brings out those willing to prey on circumstances. I am working on a series about mortgage fraud, which has me combing through the archives of sites like mortgagefraudblog.com and mortgagefraud.com–it is amazing the acts of brazen cheating and crookedness in the mortgage and real estate market right now.

]]> By: Doug Willis http://www.up2daterealestate.com/2009/04/14/would-you-mind-repeating-that/comment-page-1/#comment-5540 Doug Willis Fri, 17 Apr 2009 02:47:48 +0000 http://www.up2daterealestate.com/?p=1722#comment-5540 This is the first I have heard. It may be more prevalent, just something thats not discussed too often. As they say, "desparate acts of desparate men". This is the first I have heard. It may be more prevalent, just something thats not discussed too often. As they say, “desparate acts of desparate men”.

]]> By: Tim K. http://www.up2daterealestate.com/2009/04/14/would-you-mind-repeating-that/comment-page-1/#comment-5525 Tim K. Thu, 16 Apr 2009 17:27:54 +0000 http://www.up2daterealestate.com/?p=1722#comment-5525 Wow Doug, that's really scummy. Good job for reporting it to their superiors, and for reporting it to us here. How prevalent is this practice? Wow Doug, that’s really scummy. Good job for reporting it to their superiors, and for reporting it to us here.

How prevalent is this practice?

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