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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (21727)	6/18/2004 5:28:18 PM
From: Israel	Respond to of 306849

<<If they lied on application>> Yes, this is true.. It would be fraud.. But if they have another source of income, which isnt necessarily documented on their tax returns. This would be an option. Yes yes yes.. Tax fraud.. But hell, have you any idea how many people disclose ALL their income to the government on their tax returns? I think I can count them in one hand. In the end, what the lender cares about is 1)you paying off the loan long enough so that can sell it on the secondary market.. and 2) If you cannot pay your loan, is there enough equity in the home to get their money back, plus foreclosure costs.. Israel