Yes, you really don't have to show proof of your income they just go by what you state you make (stated Income). The interest rate is a bit higher. For me, I have no doubt, I can make the payment. I just don't feel all that comfy putting false info on my application. I'm temped though becuase what is the point of the loan then....Perhaps it's more for business owners that don't know what their yearly income will be.
Have you ever gave false info on a legal document?
by Happythoughts 15 Replies latest jw friends
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oldcrowwoman
Nope!
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RubaDub
I know quite a few people that have not given accurate information when applying for a mortgage.
It's really an issue with self-employed people that purposely want to minimize their earnings for tax purposes. When asked for copies of their tax returns, people often will be denied the loan based upon those facts. In one case, a friend told me that he and his wife were even "encouraged" by the lender to "fix" the number on the tax return and then submit that copy. There is typically little more done in way of investigations for people that have copies of tax returns and good credit.
I, however, agree with others here in that honesty is the best way to go to avoid problems in the future. I personally would think twice before submitting any legal documents that I know are incorrect. When in a situation like that, I can't help but think about the biblical account of David and Bathsheba. I visualize her in her bathing area, massaging her skin with the finest soaps and oils. David, meanwhile, observing her and desiring her more and more. Finally, they end up passionately making heated love in each others arms, the smell of their bodies and fragrant oils filling the air.
The one about the virgins and the lamp oil is a good one too.
Hope this helps.
***** Rub a Dub
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Happythoughts
The one about the virgins and the lamp oil is a good one too.
WTheck does that have to do with false info on a legal doc? LOL
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Special K
No I have never given false information on a legal document.
special k
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drwtsn32
Nope... not that I recall.