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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Who are these lenders? Posted by greg ca on June 08, 2002 at 4:48 PM Surprisingly one of my competitors for preforeclosures are lenders who go after the same properties. Why would they want to lend to these people? Are the points and interest so great that it makes the obvious risk worth it? Or do they really want the owner to default on his new loan, so they can eventually acquire the property? One of them told me if there is enough equity he'll lend based on "stated income". Isn't lending with the intent of foreclosing illegal? Greg Follow Ups: Why are such loans made? Ward-CA- 6:45 AM, 06/09/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Surprisingly one of my competitors for preforeclosures are lenders who go after the same properties. Why would they want to lend to these people? Are the points and interest so great that it makes the obvious risk worth it? : Or do they really want the owner to default on his new loan, so they can eventually acquire the property? One of them told me if there is enough equity he'll lend based on "stated income". Isn't lending with the intent of foreclosing illegal? : Greg Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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