Posted by Hugh James on April 11, 2003 at 09:57:23:
Big Daddy is oh so right! This is a complete scam, and YOU are the patsy. You’ll never see a dime of your money back.
Is this fraud? - Posted by Joshua
Posted by Joshua on April 10, 2003 at 21:03:05:
There’s a private person holding the 1st of 150,000 on a house and a bank gave the home owner a 2nd which is currently at 25,000.
The person living in the house supposedly is on good terms with the person holding the 1st. So the person in the house has stopped paying on the 1st and 2nd 18 months ago. Now the 1st is going to foreclose on the house to wipe out the 2nd and then the person holding the 1st is going to sell the house back to the person that’s currently in it. Also the person in the home has been saving all the interest payments that he can pay to the 1st after the foreclosure.
So this is what’s happening. The home owner and the person holding the 1st are working together. The home owner is saving money to catch up the 1st after they foreclose on the home to wipe out the 2nd.
I don’t know if this is fraud or not. And the home owner was trying to get me to help him by myself buying out the second at a discount price so that I can sell it back to him. “Now I haven’t been in the business long, but I can say that this sounds like a stupid plan.”
Anyway is that fraud?
Re: RUN FAST, RUN FAR !!! - Posted by BIGDADDY(MD)
Posted by BIGDADDY(MD) on April 11, 2003 at 07:15:11:
Stay clear of these shady characters. That is deffinately something that you don’t want to be involved in.
BIGDADDY(MD)
Re: Is this fraud? - Posted by Vince
Posted by Vince on April 10, 2003 at 23:46:01:
Sure sounds fraudulent to me!