Updated almost 6 years ago on .
Wondering about Mortgage
I recently came across a 2018 mortgage record involving someone getting a mortgage for $700,000; the collateral they gave were two residential properties (old manufactured homes) not worth even remotely close to that (about 60k each).
I have the document for the mortgage and I’ve seen both properties in person, so I can confirm that the county assessments are not out of range.
What are the circumstances that would allow this type of mortgage to happen?