What is profile funding in real estate?

1. Email ID:info@hamiltoninternationalestates.com Contact Number: +4401628397840 Visit us:https://hamiltoninternationalestates.com/ Profile funding is taken by builders through a set of customers who can avail a loan in their name. Such builder frauds are committed by submitting fabricated financial documents where fake employee certificates can be given. It is the practice where the builder uses the profile of the home buyer to secure a loan at a lower interest rate from thebanks. The builder may ask the homebuyer to buy in his project where the buyer provides funding to the builder on his financial eligibility. The homeowner may not be asked to invest any money at the start as the builders earn through their profile to get huge funds in their account at a lower interest rate. The terms of such agreements vary from case to case and Property for sale Manchester. These days such builder frauds have become very common and many innocent buyers are unable to identify that the builders are making false promises and hamiltons estates. The builder has to pay regular EMIs on the loans to prevent a default but in certain cases, the builder fails to pay the EMIs for the loan taken on homebuyer’scredentials. There are many such cases where homebuyers have been cheated by the builders. In a large number of such cases, fraudulent registration of already mortgaged property and misrepresentation by seller and the borrower can be seen and hamilton real estate market. The income papers and KYC (‘Know your customer’- Customer’s identity and address proof) can be used to get loans from banks, where the impersonator may avail loans from multipleinstitutions.