Posted by JoeS on August 03, 2003 at 21:39:53:
Thanks for the reply Mr. Bronchick…as an investor I read and post here on a regular basis. All the new regulations regarding “flipping” and FHA is not all the fault of unscrupulous investors, as the question confirms. There are many mortgage brokers who suggest to their clients to lie in some way or another so that the deal can fly!
To all new investors…if you are not sure of a loan scenario then please ask here or on the other sites BEFORE you sign anything. Once you sign, and you do something illegal even if it was suggested by a “broker” you are still liable! My 2 cents.