Truth or Consequences - Not a Game for Your Mortgage Application

It is hard to believe that anyone would lie...when they must know that they will be found out.

Kathy:  Where in the world did you get that great pic??  It was the icing on the cake!  Great post ...

Gene

In most states its now also illegal to falsify on even your job application/ resume. It's rewarding to play by the rules too, and Richard's right, we live in a very information saturated age where it's very easy to cross reference anything put on paper by others.

I still see people do it. Like no one's going to find out? You wonder what they're thinking sometimes!

I've had people lie on our loan applications but they usually say something that doesn't quite sound right or act suspiciously and that sends up the red flags for me.  As Bill and Richard mentioned, computers can quickly verify info before we go too far and it's just as uncomfortable for me as it is for them when the truth is found.  And for me, omission is just as bad. 

No reason to lie..they are going to find out anyway.  Best to have all your ducks in order and if the tme just isn't right, you can find out what you need to do.  

Two thumbs up!... Great post.

Underwriters' guidelines are strict and the loan will be bounced out . . . and that can happen 2 days before closing if they find a discrepancy.  Yup, better not mess around.

Congrats on the well deserved Feature!  Love the title and love the graphic!

Kathy:  I find that borrowers carefully interviewed in a face to face setting rarely lie.  And what often seems like a lie on a telephone or internet application is just the borrower being distracted or confused during the process and since the loan officer does not have the benefit of visual communication cues in those situations, they don't have the ability to pick up on that distraction or confusion.  Face to face without distraction makes for the highest quality applications.

You can never lie on a mortgage application. It will only come back to haunt you in a variety of ways. You can easily be turned down just because of lying on the application. Live in the light and your overall performance in life will be much better.

It is always good to hear a reminder on topics like this. We sometimes forget to stress these points because we deal with them all the time. Thanks for the post.

Kathy ~ It's sad to know people don't realize the consequences of not being truthful on such an important document.

Good morning Kathy! I've also come across folks that have left out critical information that was found out later. 

It may take a while but it will catch up to you, I know of a client that had to homes and three cars, used a fake SS number, in jail lost everything

Kathy, And then they will be signing the jailhouse blues from somewhere other than what may have been their new home.