Posted on 02/22/2008 6:28:38 AM PST by AdamSelene235
There's that magic word again.
Only children and socialists believe that all "change" is good.
Adults know better.
Funny!...Now the FBI has nothing else to do?
Funny!...Now the FBI has nothing else to do?
One liar might not be Enron or WorldComm, however, the enormity of the numbers indicate the fraud is equivalent to all the early 2000 scandals. If prosecution is good enough for Ken Lay, it is good enough for mortgage cheaters.
oh heck give the liars amnesty, family values don’t stop at lying or the Rio Grande. They were just trying to better themselves at loan companies and now taxpayers expense, Americans can pay for it whats another trillion in taxes? Crap give them a new car and free health care while we are at it.
Yes, and people have been burglarizing homes for thousands of years......and we've throwing their butts in jail for thousands of years.
How fricking telling is this? The nanny state is so out of control that honest hard working tax paying citizens will have to bail out criminals.
That's not a very smart statement. I would imagine the person they did charge could file an equal protection claim. Why is a homebuyer's fraud different from a house flipper's fraud? If the fraud is for a $500K house, does it really matter if it was a homeowner or a flipper?
Add:
Schedule D Laws: Enforced against US Citizens but not against illegal aliens.
Jack
Of course the FBI isn’t going to go after them. All the feds are asking is that if you did lie on your mortgage that you notify them where you are so that President Obama or Clinton can send you a check for the hassle you endured during your foreclosure and eviction./s
Lying on the loan form is just like stealing. A bank loans you money based upon your lies. If you fail to make payments, the bank is out money in lost payments, foreclosure costs, and often, failure to receive enough in the sale to recoup the amount of the loan.
I guess writing hot checks is okay too?
The absolute worst part about this is the loss of income that the criminal attorneys are enduring.
So....we are going to ignore the root of the problem, and then offer these same liars an opportunity to refinance a mortgage that they still cannot afford to pay.
And then what happens when they default on that loan as well?
So really, we’ve just all jumped on a never-ending merry-go-round at the expense of honest people.
Yes. Many people have gone to prison for lying on mortgage applications. For some reason the government doesn't want to do it anymore. Wonder why?
***The brokers with a high rate of fraud should be “stung” with phony borrowers, to see what they do to encourage defrauding the lender.***
Absolutely! Too many house buyers are totally out of the loop about getting a mortgage, and are dependent on the brokers for advice. When they’re told to report their income as higher than it is because the banks expect it, they take the “experts” advice.
No. Lying on a form is not just like stealing.
Too bad for the banks. It’s too easy to verify the information. The bank is supposed to be doing that anyhow. I have no sympathy for the banks. Tough for them. Tough for the govt.
Due to a shortage of translators, no doubt....
borrower can lie
mortgage broker don't ask, don't tell = lie
appraiser certifies information provided and the appraiser is on the hook!
What a deal and for a mere $300....
I do some RE investing on the side.
The only difference between a liar loan and a full doc loan, as far as I experienced, was about a point of interest.
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