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This is exactly what happened to us. But when the mortgage company refused to do the loan with money under the table to the second, my Realtor offered to pay off the second with his commission and we pay his commission under the table. Still illegal. We walked. What a shady business.
http://www.cnbc.com/id/34877347
scumbags and our tax money saved these phucking banks !!
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Just as regulators, lawmakers and all forms of financial oversight boards are talking about new regulations to guard against mortgage fraud and another mortgage meltdown, there appears to be yet a new mortgage fraud out there today, allegedly perpetuated by agents of, yes, the big banks.
#housing