Posted by William Bronchick on October 24, 2003 at 08:48:05:
How ignorant people are in this business…
Ask, “what law would you or they be violating”?
Buying a property subject to an existing loan has nothing to do with the new FHA loan fraud regulations.
The link below is an example of criminal activity involving FHA loans:
Question for William Bronchick re: Sub2 and FHA - Posted by Coyote
Posted by Coyote on October 23, 2003 at 23:57:56:
I know there is no due on sale jail, but?..my title company just told me that they will not handle sub2s on FHA. They said they could loose their license. Checked with 3 other title co.s and got the same story -all said it was a recent change and that it applied only to FHA loans. They said for them to be involved ?would be illegal and a criminal mater?. A real estate broker told me the same thing today?specifically on FHA loans.
What gives? Is this BS? Is this something that applies to us individual investors as well?
I appreciate any input you can offer.