Going to Jail for Lying on Your Mortgage Application

The New York Times had an interesting piece describing how one man has actually gone to prison for lying on his mortgage applicatons.

As we know, few people have been charged criminally for their roles in the mortgage mess, but this is not really the appropriate approach for prosecutors to take. Most people who took liar loans were saps for mortgage brokers who wanted to earn a commission.

I do not think that we will resolve this crisis by making it difficult for borrowers to seek workouts, absent real fraud on much bigger levels.

If you do find yourself in this situation, seek professonal advice. Please feel free to call me at 201-289-5352.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s