Help!! Possible mortgage fraud!! - Posted by Chris(ATL)

Posted by James Harris on March 22, 2006 at 06:00:17:

I presume that you maybe a realtor. The information that you shared is a bit fuzzy. So I will attempt to answer this question… The buyer is bringing 10k to the table, your commission, I presume; hmmm. It appears as if the buyer is looking for down payment assistance, this is what happens when a down payment assistance company helps a buyer get into a home. The company offers to grant the buyer a down payment and the seller will have to donate the same amount plus a fee to the downpayment company. There are thousands of people doing this every day. I don’t think that it is fraud, however, I do not posses the legal knowledge on that. Hope this helps. One company you can check out that does this is Alpha assistance.

Help!! Possible mortgage fraud!! - Posted by Chris(ATL)

Posted by Chris(ATL) on March 21, 2006 at 21:25:26:

The buyer was telling me that he would give me a check for $10k before closing to pay my fee and my seller then we would go to closing where he would have a check cut for the seller for $20k then she would endorse it back to him and the deal would be closed. I?m not sure but this doesn?t sound right?