LOL, and you have the little thing called intent, the lenders never pulled a gun on anyone and forced them to sign anything.
It seems that we have intent by the otrgage companies to evade taxes by not using the established procedure to record mortgages. By using appraisers that would go along with any asking price, the banks mislead borrowers into thinking they were paying a reasonable price. On the other hand, the borrowers asked for mortgages that they couldn’t afford. It seems that almost everyone involved was part of the problem.
It seems that we have intent by the mortgage companies to evade taxes by not using the established procedure to record mortgages. By using appraisers that would go along with any asking price, the banks mislead borrowers into thinking they were paying a reasonable price. On the other hand, the borrowers asked for mortgages that they couldn’t afford. It seems that almost everyone involved was part of the problem.