QUOTE(drake88 @ Jul 21 2020, 10:47 AM)
short answer. It is illegal
it is legal - as you can quote as discounts to purchaserMarkup loan legal perspective, Need your view
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 Jul 23 2020, 12:18 AM
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Jul 24 2020, 12:33 AM
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QUOTE(Noblish @ Jul 24 2020, 12:10 AM) So this kind of side agreement can really make it legal?? Yes, otherwise im replying this from jail already. |
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Jul 26 2020, 12:27 AM
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QUOTE(airtawarian @ Jul 25 2020, 08:41 PM) The issue is you have Never been caught yet. It is 100% illegal and will fall under Section 420 for INTENTIONALLY deceiving and fraudulently in order to gain from the bank. Understand the law first. Just Because You have Never been caught doesnt mean it is legal. Those who aiding and abetting would similarly be charged under s34 as well Just cut the BS down & prove it's 100% illegal then and be consistent. |
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Jul 26 2020, 12:31 AM
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QUOTE(mini orchard @ Jul 25 2020, 09:25 PM) [attachmentid=10544027] He said Technically not illegal, but at the same time 100% illegal. Kinda conpius. Dono what he's trying 2 say but more importantly is the hot money already in pocket. Who cares after all. This post has been edited by propertyowner: Jul 26 2020, 12:54 AM |
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Jul 26 2020, 01:04 AM
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QUOTE(icemanfx @ Jul 26 2020, 12:59 AM) Although there are enough legislation to charge marked up loan borrower for loan fraud. however, local bank is more keen to recover debts and police commercial crime division don't normally get involve in debts recovery. given rising npl from marked up loan, it won't be a surprise some will be charged for loan fraud to deter future offence. Developer selling to you can be in similar methodology but they never call it as mark up loan. Just deep dive more on how things work n you'll be surprised. |
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Jul 26 2020, 01:12 AM
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QUOTE(icemanfx @ Jul 26 2020, 01:06 AM) For reasons, some banks give low LTV to some developers units. Most of the times, banks gav high LTV to developers with rebates/discounts. |
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