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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: HairBall who wrote (32)7/1/2001 9:46:21 PM
From: Canuck DaveRead Replies (1) of 306849
 
This is an old scam. It used to make the rounds of late night TV infomercials.

It worked (for a while) in the 80's when real estate prices were on the rise. I guess it's making a comeback. The whole thing is predicated on finding a desperate seller in a buoyant market. Of course, in a rising market you don't need to find distressed sellers, and the about-to-be foreclosed should be able to get a bridge loan to allow getting market value.

I never did quite believe that 'No money down' part. Caveat Emptor as always.

CD
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