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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Are you sure? Posted by Jerry - Ca. on April 27, 2008 at 10:47 AM In Reply to: Are you sure? posted by Rick, the Probate Guy on April 25, 2008 at 6:44 PM Hello Rick: In my post I stated "In the first place it's illegal for a buyer to get money back from the seller in escrow! The only way that could happen ... is if wrong information is completed on the HUD-1 Form (Bank Fraud)." My theory was correct but my I used a "poor choice" of words which as stated is incorrect! What I should have said was; "In the first place it's illegal for a buyer to get "cash proceeds" back from the seller in escrow! As you are aware "cash proceeds" belong to the Seller and the return of any of those funds to the BUYER would have to some sort of illegal Kick-Back! Thanks for correcting me! Jerry-Ca. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX : Jerry, I wasn't aware of this. Are you certain that you're not making an assumption that this would pertain to a short sale or similar transaction? Also, are you certain that this is "illegal" or just against policy? : Anyway, if you have any CA or Fed statutes or case law, I'd really appreciate you sharing with us because this is news to me. : Many thanks Follow Ups: Re: Are you sure? Jerry - Ca. 3:04 PM, 04/29/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hello Rick: : In my post I stated "In the first place it's illegal for a buyer to get money back from the seller in escrow! The only way that could happen ... is if wrong information is completed on the HUD-1 Form (Bank Fraud)." My theory was correct but my I used a "poor choice" of words which as stated is incorrect! What I should have said was; "In the first place it's illegal for a buyer to get "cash proceeds" back from the seller in escrow! As you are aware "cash proceeds" belong to the Seller and the return of any of those funds to the BUYER would have to some sort of illegal Kick-Back! : Thanks for correcting me! : Jerry-Ca. : XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX : : Jerry, I wasn't aware of this. Are you certain that you're not making an assumption that this would pertain to a short sale or similar transaction? Also, are you certain that this is "illegal" or just against policy? : : Anyway, if you have any CA or Fed statutes or case law, I'd really appreciate you sharing with us because this is news to me. : : Many thanks [ 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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