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Home loan fraudulence does occur whenever a prospective homebuyer, vendor, or loan provider lies or omits key information that contributes to home financing loan approval or terms that the applicant would not usually qualify to get.
More formally, the FBI defines home loan fraudulence as any “misstatement, misrepresentation, or omission with regards to home financing loan which will be then relied upon by way of a loan provider. “
Home loan fraudulence is just a severe offense and can cause prosecution and prison time for convicted offenders. Under U.S. Continue reading “How to get a true mortgage without two years of work”