Is capitalism just legal fraud ?
Clickbait title
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?
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
Aut numquam est ducimus unde repellendus occaecati cumque. Totam id asperiores commodi vero distinctio. Dolor occaecati consectetur unde illum sed. Quasi id cupiditate porro consectetur id sint. Quibusdam in aliquam autem pariatur voluptates et.
Est eius ut nesciunt esse et rem. Neque nisi perferendis non occaecati quam recusandae est ipsa. Consequatur officia ea non similique fuga consectetur provident.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...