From: "paranoid" 
Newsgroups: misc.consumers.house
Subject: Re: abtaining pre-approval
Date: Thu, 22 Sep 2005 00:36:50 GMT


"Andrew Koenig"  wrote in message 
news:p7dYe.65108$qY1.19243@bgtnsc04-news.ops.worldnet.att.net...
> "paranoid"  wrote in message 
> news:35OXe.7118$nV1.2819@trnddc06...
>
>>    Get a HELOC on the house, after the refinance, use that for down 
>> payment on a new house, obtain another loan...
>
> When we bought our house, we had to sign a statement that the down payment 
> was "not borrowed in any way".
>


Well, my friend owns 4 houses, and he borrowed the money for every one. I 
don't think anything becomes an issue until you default on the loan and all 
that jazz