September 5, 2007, 4:37 am : Stated-Income Loans Lie Income Status
Filed Under: Stated-Income LoansDiscussion:
when people want to apply stated-income loans, they usually their lie their current income status. Because the stated-income loans based on your income status, more income level more stated-income loans you get. Borrowers usually lie their income so that they can borrow money.
I have to say, it’s a stupid tip to get more stated-income loans amount. Lenders aren’t dull. After you tell them your income status, they will check your real income first. If they found that you cheat them, they will decline your stated-income loans application immediately and put your in their loan black list.