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yeah, there are actually deep frauds involving sham lenders or identity thieves buying houses with a mortgage on someone elses back, then they flip and fly. sometimes neighborhoods have restrictions on flip rates or cooperations- tends to keep the uninterested owners out. people with nothing but 10% down equity invested in a second property wont give a shit if they leave consruction shit in the yard or whatever (its not their neighborhood). there are some loans that restrict selling options as well if memory serves. its pretty common.
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