Recently spoke to a friend that had to learn this lesson the hard way. He had taken some bad advice from a lender. This lender advised him to add his wife to his business’ payroll, so they could add her as income (when in fact she was a stay at home mom). This would allow them to qualify for a larger loan. When the loan went to the underwriter, guess what happened? His loan was declined.
I feel for my friend, because he was just taking the advice of a professional. But if a loan officer ever suggests being anything other than completely truthful, RUN! That professional is only looking out for their own good and not their principal.
As real estate agents we are held to the highest standard of care for our customers. Here at Abacus we will be alongside you during this entire process, looking out for you. We have taken a pledge to loyalty, obedience, disclosure, confidentiality, reasonable care and diligence, as well as accounting.