Quote:
Originally Posted by Slava
Is that really being duped though? Someone asks to pay you so that you use your name for the mortgage and you simply say "yes". I fail to see the trickery here. Sounds like someone just got greedy and thought it was easy money?
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The trickery is when the Mortgage broker or whoever tries to get a mortgage way above the value of the house.
So a house that is worth $350 k is being mortgaged for $400 k and then they take the difference of $50 k and pocket it.