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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Doesn't have to be a conflict of interest... Posted by Ward-CA- on March 15, 2004 at 10:25 PM In Reply to: MLB question posted by Dale Smeltzer on March 14, 2004 at 10:58 AM : What are the advantages/disadvantages of being involved with forclosures when one has a Mortgage Loan Broker license in the state of California. Conflict of interest vs leads for new loans would be one possibility. What if they don't qualify for a new loan would it then be a conflict of interest to then try to structure a purchase. : Dale ================ Dale, No, I don’t think you’d be in a conflict of interest situation if you were aboveboard in disclosing that you would be the buyer, rather than hiding behind some other straw buyer. I have some trainees who initially visit owners in default with the intent of making them a loan. But if a loan isn’t advisable, then they offer to buy the property instead. Just make sure you have documentation in your file on the deal that shows why you felt a loan wasn’t in their best interest. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : What are the advantages/disadvantages of being involved with forclosures when one has a Mortgage Loan Broker license in the state of California. Conflict of interest vs leads for new loans would be one possibility. What if they don't qualify for a new loan would it then be a conflict of interest to then try to structure a purchase. : : Dale : ================ : Dale, : No, I don’t think you’d be in a conflict of interest situation if you were aboveboard in disclosing that you would be the buyer, rather than hiding behind some other straw buyer. : I have some trainees who initially visit owners in default with the intent of making them a loan. But if a loan isn’t advisable, then they offer to buy the property instead. : Just make sure you have documentation in your file on the deal that shows why you felt a loan wasn’t in their best interest. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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