Posted on: 11th Sep, 2009 11:17 am
what is a Straw Buyer Definition?
Check this
http://www.mortgagefit.com/inprocess/straw-buyer.html
http://www.mortgagefit.com/inprocess/straw-buyer.html
Straw buyers are helping new loan borrowers .Those are people who consent that their names and personal details are used by certain people with the purpose of obtaining mortgage loans with no purpose of ever inhabiting these homes.
Sometimes a straw buyer will be offered several thousands for the favor. Or sometimes they do not come to know about their name is used for getting loan.Thus straw buyers help new home buyers intentionally or unintentionally.
Straw buyers are forcing lender to increase the loan amount as they are so called mortgae fraud.Thus they are giving promotion to illegal things and making crime to flurish.
Sometimes a straw buyer will be offered several thousands for the favor. Or sometimes they do not come to know about their name is used for getting loan.Thus straw buyers help new home buyers intentionally or unintentionally.
Straw buyers are forcing lender to increase the loan amount as they are so called mortgae fraud.Thus they are giving promotion to illegal things and making crime to flurish.