Chapter 51. Home sweet scam
“If stupidity got us into this mess, then why can’t it get us out?” | ||
| --Will Rogers | ||
For many people, the biggest investment they will ever make during their lifetime is the purchase of a home. Because real estate is so valuable, it is a prime target for scammers.
One scam involves your being approached by a person who tells you that although he’s a reputable real estate investor, he can’t get conventional financing from local banks because banks are too conservative in their underwriting standards and they consider him to have too many loans in place even though he’s a successful businessman operating a profitable business. But he has a win-win solution to his problem—one that will help him and help you at the same time. ...
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