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Hear, hear well done Darren;). You have certainly highlighted the fact that you don't rush into these things without having your eyes wide open.:) Tfb seems somewhat confused as to how many people you are, maybe its just the amount of typing you have done.:D Or maybe he meant you and...

This still doesn't work. As now it is very one sided to the lender. If you wanted to be devious then you would enter this deal pay the $250k, collect the $22700, take the contract for $400k less $250k deposit and register it. Done deal. You have now bought a unit suppossedly valued at $650k...

Hi Aikido So from what I am interpreting the security is a sales contracted for $650k with a deposit of $250k, being the original loan with an interest payment of $22500 for 3 months. Or is it that its contracted for $400k and you never see your $250k again? Either case the security doesn't...