money back at closing

[joso61]

my client is requesting 20,000 back at closing to help with closing and pay off credit cards. i have been back and forth with the listing agent trying to figure out how the contract should read prior to me submitting it to the lender. what is the legal way. need some creative ideas. please help

[joso61]

i am in florida

[Secret!]

Originally Posted by joso61

my client is requesting 20,000 back at closing to help with closing and pay off credit cards. i have been back and forth with the listing agent trying to figure out how the contract should read prior to me submitting it to the lender. what is the legal way. need some creative ideas. please help

regardless of HOWthe contract is written, that sort of deccit is called FRAUD, no lender will fund $20,000 more (so the customer can get cash) than the actual appraisal or genuine purchase price (whichever is lower) ... only in your (Carlton Sheets) dreams is that done lawfully

[joso61]

thanks

[nopar]

the only way to do it legally is email me and i will explain it to you in better details

[Greg]

There is NO legal way to do this Nopar. If it is so legal than post it on the forum.

joso61 if you want to keep your nose clean and be in this business for awhile do not consider it.

[nopar]

the only legal way to do it is to take out a heloc after closing lol

[Greg]

You got me!

But, which will do it on full appraised value with no seasoning? Seems kinda unrealistic.