There, some couples have to fake their own divorces so they can get third mortgages and bank loans to buy properties. And others are actually getting real divorces worried that a fraudulent divorce might come back to haunt them.
In other cases, real estate agents are helping couples with forged marriage licenses and documents to prove local residency and allow buyers to purchase more properties.
The strategies are all designed to thwart the Chinese government’s efforts to prevent a price bubble in the housing market. In recent months the government has taken dramatic steps to curb an ever escalating housing market, including limiting the number of properties a family can own.
Wednesday, August 17, 2011
Thwarting the mortgage limits in China
Couples fake divorces to buy homes in China