Here's a quick "cash back" spin from Phoenix... trust me, there's PLENTY more of these if you're interested. Take your city for a spin and let us know what you find.
Yes, the system has spun completely and utterly out of control folks. There is no oversight, there are no regulations, the REIC has no ethics, and this housing ponzi scheme will now go down as the biggest bubble, financial mania and debt orgy of all time.
And, of course, the biggest financial crash in recorded human history as well.
It hath been foretold. Your goal now should be to protect yourself from the fallout as best as you can.
Investors........$400,000-$500,000 Cash Back.......Don't miss out!!
$255000****$15,000**total*Cash*back*$5,000**Back*to**Buyer**$5,000**4*close*
▊►60K CASH BACK -- Pre Construction Real Estate
$319300 Over $30K Cash Back or Guaranteed Rent $3,193 For 18 Months (Maricopa) pic
★★PreConstruction Real Estate with 15% CASH BACK img
$180000 up to $20,000 cash back, Condominium Close Out! 1,2, & 3 bedrooms (Phoenix) pic
$200000000 $$$deal$$deal$$$deal$$$ cash back$$$ 300,000
CASH BACK AT CLOSING!! ---- Chandler home with Pool! -----
Cash Back houses for sale...
$500000 FSBO-3100 SQ-$30.000 CASH BACK AT CLOSING!!!
██15% CASH BACK & zero taxes - PreConstruction Real Estate
$259000 ****$20,000**total*Cash*back*$15,000**Back*to**Buyer**$5,000**4*close*
$500000 FSBO-3100 SQ-$30000-CASH BACK AT CLOSING!!!
■■30K CASH BACK incentives --- PreConstruction Deal
$330000 100% No Money Down & $35,000 Cash Back On A Huge Beautiful Home!!
$500000 FSBO-3100 SQ-$25000 CASH BACK AT CLOSING!!!
January 22, 2007
Want to see the "cash back at closing" scam in real time? Just go to any city's Craigslist and search for "cash back"
Subscribe to:
Post Comments (Atom)
15 comments:
FIGHT THE REIC!
What would stop someone from doing liars loans (like Casey) for as many cash-back deals as he could today, accumulate all the cash, ship it off to an unmarked swiss bank account, then file for bankruptcy and foreclose every property?
Anyone who wanted to today could be rich beyond their wildest dream by doing exactly this
Two homes in the DC Ranch subdivision, both are 3350 sq ft. Both recently appraised at 1.5 Mil. Buy one or both for 70% of appraised value or buy one or both for appraised values and get $400K-$500K cash back at closing on each one. Your choice, must sell ASAP. Make an offer. Email for pics or if you have any questions. Serious inquiries only. Must have pre-approval letter from your lender available upon request.
Thanks,
Trent
A little cash back at close for remodeling purposes isn't out of the ordinary. Rather, it's those asking for lots of cash back at close and are 100% financed / stated income, etc., who are up to no good.
Baltimore Maryland:
As prices are declining- I have only purchased homes that provide cash back at closing. All purchase prices considered. Please email property location/ description and terms requested...perhaps I can buy your home this week. Renovations welcome. Thanks & have a great day!
Read Here
Keith, Someone went into Craig's list and FLAGGED all of your example CASHBACK posts.
Why would every post be flagged within hours of me posting them? And to think, they're just a few of the thousands and thousands of postings I could have put up
from the Denver craigslist:
"2400 +/- SF, 4 bedroom, 3.5 bath 2-story home with newer addition complete in 2004. Central AC, 3 of 4 beds with their own full bathrooms for privacy. Close to Cherry Creek, Wash Park + Downtown. Recent sales in neighborhood of $500K, $469K and next door listing @ $445K.
$20,000 cash back at close or lets be creative! "
Apart from the fraud perspective, cashback from a finance perspective is such a no-no. Its liquifying, turning into money a future(potential) gain on a asset BEFORE the gain has actually occured. So, supposing it doesn't ?
I thought this was the height of stupidity but my scan of craigslist reveals cashback offers on PRE-construction homes. So, here you liquify a gain on an asset before the asset is even created !
Truly, no wonder we are getting a bust!
-K
Forget about the share holder society, get ready for the new share cropper society.
16 tons
what do you get
another day older and
deeper in debt
But hey ... think about it ...
Would you buy an ugly, garrish, overpriced POS in a marginal neighborhood, really really far away from job centers without being paid big bucks to do so ... huh ...
I didn't think so ...
Cool.
Cow_tipping.
sk said:
"Apart from the fraud perspective, cashback from a finance perspective is such a no-no. Its liquifying, turning into money a future(potential) gain on a asset BEFORE the gain has actually occured. So, supposing it doesn't ? I thought this was the height of stupidity but my scan of craigslist reveals cashback offers on PRE-construction homes. So, here you liquify a gain on an asset before the asset is even created!"
Good points, however, having said that what must you do to a dollar in order to create it? The answer is ironically similar in theory to the concept of getting cash back at the closing.
Whoever, provides the answer to this question will receive a free mud mask from the holy mud company (holymud.com) plus $20 cash back - yes I'm serious.
And I'll give you a hint the answer involves something that Americans do to much of if you believe the recent Federal Reserve study on the household savings rate.
Feeling lucky? If so email me at sofia@holymud.com with the answer.
let me amend my previous post to say that whoever is first in getting the correct answer will receive the prize
Good grief, Get 500K back at closing? Fudge the applications (lie like everyone else.) Do this about 10 times. Screw bothering to declare bankruptcy. Take 5 mil CASH and head to Argentina. No brainer.
I just bought a home for $29,000 that a man took out a home equity line of credit on while he was in the nursing home. He had a crooked banker and a crooked appraiser, the home was worth $45,000 and they gave him $108,000 he never made a payment.
Eric Medemar
We have a winner. Congratulations Andrew!
Post a Comment