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People sell mortgages all the time. Is it just illegal to sell a mortgage to the borrower? If so, suppose two borrowers team up and buy each others' mortgages?
by DennisP 7y ago
People sell mortgages all the time. Is it just illegal to sell a mortgage to the borrower?
If so, suppose two borrowers team up and buy each others' mortgages?
- analog31 7y agoIn response to both the posts here, I don't know. It also could be that the banker was full of it. On the other hand, I could imagine a sort of moral hazard situation where someone could take out a loan, let it go into default, and then offer to buy it back at a massive discount.