Posted by Max-Va on May 08, 2006 at 11:55:48:
A seller 2nd is not fraudlent, providing it is disclosed. I do this often. I have not had any problems with the lenders agreeing to this arraingment
Seller Financing Down Payment - Posted by TomM
Posted by TomM on May 08, 2006 at 11:23:57:
It is my understanding that lenders will rarely allow seller’s to provide financing for a down payment and if it occurs it could be considered a fraudulent transaction.
If a 2nd is provided by the seller “outside” of the closing process are both the buyer and seller liable for possible fraud cliams or is it just the buyer who is at risk?
Re: Seller Financing Down Payment - Posted by Natalie-VA
Posted by Natalie-VA on May 08, 2006 at 15:35:08:
Tom,
It would make sense to me that everyone who knows about it would at risk including the Buyer, Seller, settlement agent, real estate agents, loan officer, etc.
–Natalie