What is an air loan?

Air loan is a strategy in which the property or mortgage broker pretends to be a certain piece of imaginary assets, and that there is also an imaginary buyer who is interested in buying this property. The broker then approaches the creditor and negotiates the best possible for this imaginary debtor, allowing earnings to earn profits from the following loan transaction. Once profits are secured, the non -existent debtor will be forfeited to the loan, so the creditor leaves no assets to seize and return part of the loss.

The assembly of a typical air loan system requires a lot of effort. The intermediary must create a network of links and contacts that help verify the data submitted in the request for a loan of an imaginary debtor. This means using telecommunications that allow the creditor to call the debtor's employer, verify the current debtor's home address, and even verify the Appllicant credit history. At the same time, the accounts of phones, the Internet and even the mailbox must be setthat make it possible to verify that there is an imaginary property and that the value has been verified by the appraiser. Once everything is verified and everything seems to be in order, the air loan is approved.

If the air loan system is successful, the broker acts as an intermediary between the creditor and the imaginary buyer, often accepts the loan funds and hides the funds away from the unimaginable bank account or converts funds to some other type of asset. Within a few months, the mortgage loan for imaginary assets is by default and the creditor begins collection or proceedings to close the market. At this point, it is clear that the debtor does not exist and the property has never been real. The mortgage broker usually also operated under the supposed name and now the extremes are difficult to find. In the end, the creditor will not remain without the assets to exclude, and no prospects for the loss to return.

Air rentalKa is just one of several different types of common fraud that may occur in real estate stores. One other common model is to steal the identity of the real person who leads the real estate agreements, a situation that ultimately creates headaches for both identity and creditors' theft. Another fraudulent strategy is to inflate the assessment of assets under the robes of planning the purchase of real estate and improve before sales for profit. Although this approach looks a lot like a legitimate roller strategy, in fact, the property is never purchased and the recipient of the loan usually disappears without a trace.