In reality it’s kind of funny though because they could probably convict 90% of homebuyers for inflating stuff on their home loan applications, but they usually don’t pay attractive until the losses get into the millions or there’s some sort outright fraud.
“In reality it’s kind of funny though because they could probably convict 90% of homebuyers for inflating stuff on their home loan applications, but they usually don’t pay attractive until the losses get into the millions or there’s some sort outright fraud.”
Really? That would be really sad. When we used to get loans, it was ridiculous how much the bank said we were eligible to borrow. And we were completely factual on our application. I would never in a million years borrow the amount they said we could, because then we couldn’t afford any utility bills or furniture for the house! Much less food and clothing.
Of course I haven’t gotten the loan in over 15 years. Hopefully things have changed. I’m sure letting people borrow too much just leads the way to bankruptcies.