How not to get Caught in Financing Lies

No matter who you are, no matter how honest; there sometimes comes an opportunity that only a lie can bring that opportunity to a reality. You may want that beautiful home that is way out of your price range, but your broker “off the cuff” will advise you of the ways to get around the obstacles for obtaining the loan to do so.

So in order to get the loan, you begin to provide false income, or inflated income that will look good to the lenders. It may be that you claim you are making money via of supplying rooming for elderly care when in fact you are not. This little lie will give a false sense of security as you begin to believe that the income is really there.

There may be other ways to falsify income as the home you want has blinded your common sense about what you can or cannot afford. Well, if you’re going to lie, and think you can deal with the consequences of not really having enough money to pay that monthly mortgage, then you do need to be prepared to back up your lies with fake signed leases, or other fake documents that support your lie.

The lender is interested in the paperwork you provide as they trust your better judgment to not put yourself at risk by losing everything.

No matter what the circumstances, lies can get you want you want, but the biggest problem is not so much getting caught in the lie by the lender, as they will simply deny your loan, but rather what it will mean to you yourself as you begin to realize that false documents proving income that’s not there will quickly catch up to you and in no time you lose everything.

Of course you don’t plan for it to happen that way, for in you’re mind you feel you’ll be able to find that income somewhere down the line, because right now all you’re interested in is getting the home before it slips away. That is totally understandable as far as one acting emotionally.

But the reality is that you should always go into financing with the least that you can expect to be able to provide as far as income. In this way, should the loan go through, at least you know you’ve covered your ability to repay the loan based on the minimum income you’ve established.

The best way of all of course is to not put yourself in a position for having to lie in the first place. If you never lie, then there cannot be any consequences. Remember the law of the universe, there is a perfect balance, and if you decide to swing the balance in your favor when it’s not meant to be that way, you will find out the hard way that this universal law applies to you as well.