Posted by JoeS on March 14, 2002 at 21:46:04:
ANYTHING you do CAN be illegal if done incorrectly, even driving your car.
What Your Doing Is Illegal and You’ll Go To Jail - Posted by Jill
Posted by Jill on March 14, 2002 at 19:34:01:
Hello! I am very concerned about something. I know that people every where are doing flips; yet, when I called two mortage brokers/bankers and ask them if they did hard money loans, I was told that flipping property is illegal and that people in Washington and Baltimore are now sitting in prison for a long time. I don’t get it. If a car dealer buys a car at an auction and then turns around and sells it for a profit than why could this not be done with a house? Am I missing something?
Don’t believe it… - Posted by JHyre in Ohio
Posted by JHyre in Ohio on March 15, 2002 at 06:12:48:
Run a search on the main news group for flipping scams…ususally involved inflated appraisals, which is loan fraud. Of course, the media being what it is (chock full of clueless crusaders and left wingers with Important Hair), that’s all one ever hears about house flipping in the press. Avoid loan fraud and use common sense, and you shouldn’t end up doing anything illegal.
John Hyre