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Is this possible ? Assume I create an LLC, take out a business loan and use it as a down payment for a property.
Once I am handed over the property, I (the LLC) will stop paying all interest payments and just squat in the property until I get evicted and the home repossessed
I (the LLC) then also file for bankruptcy for extra protection and to have the debt wiped off the books hopefully
And lastly, rinse and repeat. Is this a free housing hack?
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No - that's just fraud.
Wire Fraud, RICO as soon as you try to do it again is a good downpayment on an 8x8 cinderblock hotel for up to twenty years. And have fun with the bank(s) coming after you civally to boot.
Redacted not dank enough
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