Getting loans.. (WAY off topic)

[Todd....!!]

Borrowing money on borrowed money is not a federal offense man, but I
may just be TOTALLY ignorant of most things...meaning that I don't know
EVERYTHHING, hardly anything matter of fact...

So, what's Check Kiting?

Thanks!

Todd....!!

Peter D. Hipson wrote:
> 
> Careful, that's very close to check kiting... A federal offence, btw. <g>
> 
> At 12:37 PM 5/27/99 -0700, you wrote:
> >
> >> Will be goin out and gettin loans using this $3,000 as my collateral in
> >> several banks in series, i.e. deposit the $3000 in one bank, get a loan
> >> using it as collateral, take the loan money from the first bank, deposit
> >> it into another bank, get a loan on that money etc....
> >>
> >> Then mak 2 or 3 payments on each 'loan' over a 6 week period using the
> >> $3,000 'loan' money for payment money, then go back within about 6 weeks
> >> or so and pay all of em off, then ask for a signature loan from each
> >> bank for about the same amount...(signature meaning NO COLLATERAL!) and
> >> do the same thing with that signature loan money... This will build
> >> credit with the bank(s) as well as a relationship with em...
> >
> >Wow!   I'm looking into buying some land.  If the loan officers in
> >Houston are this stupid, maybe I should get a loan there.
> >
> >
> >
> Thanks,
>         Peter Hipson (founder, NEHOG)
>         1995 White NA Hummer Wagon