Posted by Stacy (AZ) on January 28, 1999 at 16:23:54:
Flips are legal, pure and simple. However, if you are trying to flip a property to a buyer, and falsely inflating the value of the property through a scam-artist appraiser, defrauding mortgage lenders, get ready for a long vacation (with bars).
The wholesale flips we refer to on this newsgroup have nothing to do with this illegal activity.
Stacy
UH-OH Flipping by Peter Phipps - Posted by CThompson
Posted by CThompson on January 28, 1999 at 16:09:44:
I have some concerns about the article I read by Peter Phipps. People seem to be getting into trouble with the appraisals. Has anyone read this article and if so is the problem that these particular people have appraised homes at more than they are worth or is it that something is inherently illegal with flipping?