What is profile funding in real estate?
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 the banks. The builder may ask the home buyer 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 Hamilton estates . The builder has to pay regular EMIs on the loans to prev...