Updated about 11 years ago on . Most recent reply
Is Wholeslaing a shortsale Illegal? Federal Indictment included.
Ok, so I'm reading an indictment from the feds on some guys that bought a shortsale from a bank, then wholesaled it the same day for a profit. Can I pls get some feedback on whether this is getting some attention as being Illegal? Here is the full indictment
http://mortgagefraudblog.com/wp-content/uploads/20...
Seems like these guys may have done some extra things other than just wholesaling a shortsale. But is it fraud to negotiate a low offer with a bank, then sell the same house for a profit?