The man behind “We Buy Ugly Houses” is worried about one word. “The F word.” Not that one. Instead, the president of HomeVestors of America Inc. means flipping. In fact, John Hayes is trying to eradicate the term flipping, shorthand for buying a house and quickly reselling it for a higher price — even though his business does just that.

Not that there’s anything wrong with flipping, Hayes told me in a phone interview from his Dallas office. But it gets a bad rap when associated with the crooks who commit mortgage fraud and its close cousin, appraisal fraud. While he wholeheartedly supports bills recently introduced to crack down on those frauds, Hayes wants state lawmakers to understand “flipping” a house is neither nefarious nor should it be made illegal. The problem is those lawmakers have incorrectly lumped the “F word” with mortgage and appraisal frauds when they announced their bills.

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