Quote:
Originally Posted by Slava
I must have misunderstood. Are you saying that I buy a house with a mortgage of $500k. The scammer makes the mortgage $550k though, takes the extra $50k without my knowing, and I have to pay that amount back? I guess I'm really not to clear on how this really operates. I figured that your friend just made a quick $5k here and the risk was that the mortgage is in his name and he could risk a defaulted mortgage crushing his credit rating?
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Yep that's exactly what is happening. My buddy has a bad credit rating and can't put anything under his name. The bank is selling his house and he's expected to lose a lot of money. He has hired a lawyer though so hopefully everything works out and that scumbag that I linked gets arrested.