Quote:
Originally Posted by greglepore
I'd have to involve bank fraud, no bank is going to allow this sort of a deal if they know. I suppose he's telling the bank that the 30% is his and then getting it back from you. This a a potential crime...
Dr Coastline is right, flipping it around is much safer.
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I don't think I would ever put myself in a 30% second for any real money. But if Vipergrun was so inclined he could require a signed notification form the bank they are aware of the second and it's terms. I still don't see a bank accepting those terms though. Even from a first position very risky.