scubaforces :
Property agent now teach buyers to replicate their bank account statement to qualify for mortgage loans.say you want to buy condo . 1million. borrow from Bank C.
Bank C demands that you produce a bank statement showing you got $200,000 as liquid cash as backup.
But you only got $100,000 deposited with Bank A.
How to bypass the loophole..?
Photocopy your Bank A statement showing $100,000.
then transfer your $100,000 to Bank B,
Photocopy your Bank B statement now showing $100,000 also.
Both statements combined now show you got $200,000 liquid cash.
submit both Bank A and B statement to Bank C and you can qualify for the mortgage loan from Bank C.
Banks close one eye to such loophole. because they don't want to lose you to their competitors.
Property agent also get their commission.
Buyer also get mortgage loan to buy condo.
win win win situation.
