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Updated over 10 years ago on . Most recent reply

Pay the $10,000 fine for not occupying??
Has anyone ever bought a bank owned property during the "first look" period for owner occupants only and just paid the $10,000 fine? I found a deal that could potentially bring in a lot so the $10,000 would gladly get paid if I could get this home. Any experience, thoughts?
Thanks
Most Popular Reply

I remember an article posted on BP several months ago where a cop bought 3-4 first look properties and got the special financing. Needless to say he's not longer a cop and doing jail time. But beyond the potential repercussions sounds like you have no integrity and that's no way to run a long term successful business. It will come back to bite you.