Short Sales Information for
The Answer Is NO!
What is an "Arms Length Transaction" in a Short Sale?
An arm's length transaction is where both the seller (s)and purchaser (s) are acting independently of each other and have no relationship to each other in a contract.
It means that you cannot sell your house as a short sale to your brother, rent it from him, stay in the house and act like nothing happened!
That would be an illegal transaction. . Punishable by. . (check this video)
(***hint***~ It COULD keep you from going to jail. .must see this video)
Mortgage fraud is under the jurisdiction of the FBI and it is punishable by jail.
When doing short sales, you should be advised by the right person, asking the right questions before you hire them and not expose yourself to a future accusation of a mortgage fraud
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