"Liar loans"

[bartongrl1]

The national housing boom is producing a companion boom -- one that you don't read about as much: Dishonesty and outright fraud by home buyers and mortgage and realty industry professionals on loan applications has exploded in the past two yeas.

Read more here

[badmomma]

I kinda fiqured that people who were trying to get loans would lie but I hadn't realized that lenders were just as dishonest.

[flippinout]

Unfortunately, thats the facts. And it doesnt do a thing for the real estate industry. I would think that the mortgage companies would check into what prospective buyers put on their applications, but then again, if the mortgage companies do the same thing to push loans through, why would they check?

[flip4u]

Great information to know I didn’t realize that mortgage companies would go to such length to get a loan application to go through or that an applicant would lie about their finances as well.