Fraudulent conveyance

[kent302]

Here is a new thread in order not to hijack ORNV3's.

The illegal transfer of property to another party in order to defer, hinder or defraud creditor.

The first thing comes to mind for me was, isn't that what the Treasury did when they funneled AIG bailout money to Goldman Sach and European banks?

“As much as $37 billion from federal bailout loans to American International Group Inc. has gone to investment banks including Goldman Sachs Group Inc., the firm Treasury Secretary Henry Paulson used to run."

The other post from someone who said a neighbor made a bid on his house that is being F-C or was it short-sale.
So I thought, how interesting, is it legal to walk away from one's mtg and then later buy the house back when bank puts it on the market?

Another form of it would be a cluster-bail where neighbors bail and then buy each others' house at foreclosed prices.

I am not comtemplating doing this.