At least one lender has opened the door to income from the marijuana industry buying, refinancing and pulling cash out.
Mortgage lenders knowingly and sometimes unwittingly provide residential purchase and refinance loans to tax cheats, money launderers and even straw buyers.
How so? Lenders typically face a low bar for income documentation, they don’t look too hard and they don’t ask many tough questions.
So, why can’t lenders provide mortgages for legally licensed, self-employed folks in California’s legal marijuana industry?