Dude, banks or other third parties do not need to assure themselves that you have done the right thing. If the 1200 signed over their homes and they signed a contract and were sophisticated property investors, then the third party can rely on it.
Opes did a number of its clients.
Dude if you can get 1200 people to sign across their homes after signing a contract but you telling them a lie, they are fools.
But what you have described happens everyday where a child gets a parent to secure a loan for them using there house has as security.
The chold promises that they wont do anything wrong and they wouldnt rip their parents off.
Thats why banks insist on the gaurantors getting thrid party independent advice.
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