Coldwell Banker Mortgage
What's Behind The Blue Door of Real Estate?
Flopping schemes can be very elaborate and can involve a number of co-conspirators. The simplest explanation of the scheme is that "...participants buy a home from an owner who may face foreclosure, at a price well below its distressed value by agreeing to deal with the lender, then immediately resell if for a profit, sometimes to a fellow conspirator."
This is illegal on so many levels and is another reason that a homeowner needs to work with a trusted and experienced realtor.
~ Melanie Troutman