Posts Tagged ‘stated income loans’

What is a Liar Loan?

Posted by admin on July 12th, 2010 under Foreclosure Update, Our Community Tags: ,  •  Comments Off

A false loan application is fraud and usually grounds to deny a bankruptcy discharge, but this lender did not verify the income and did not rely on false application, according to an Oakland, CA, judge which called the case “a poster child for some of the practices that have led to the current crisis in our housing market.”