Quote:
Originally Posted by FMCoug
I think it's fine as long as it was truly a purchase with a refi later (even one day later). But the buyer getting money at closing is defined as mortgage fraud is it not?
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Depends. Sometimes they allow seller concessions, In some cases the Lender can cut the buyer a check for certain things. But you can not take out equity on a purchase, I think thats what you were saying. So yes that is not allowed.