Inflated Income on Loan Application Could Be an Honest Mistake -- or Fraud

                   
washingtonpost.com     04-Jul-2008            

Saturday, July 5, 2008; Page F02 Q I bought a condominium in January 2006 for $215,000. Just the other day, I was going over some papers, including my mortgage application, and noticed that my salary was shown as about $3,900 a month. At the time, I made nowhere near that -- I was probably making about $2,000 as a waitress. Since I bought the apartment, I have exhausted all my savings, borrowed money from friends and gotten into credit card debt. Now that I think about it, maybe I should not have been approved considering what I was making. However, because of the falsified salary, I was approved. Do you think that this was just a simple mistake on the bank's part or that the mortgage broker overstated my salary just to get extra business? I feel as if I got the mortgage under false pretenses and now I have to struggle. Is... [read full story]                    

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Mortgage Bad Credit Loans Can Get You Out Of Debt

kirberts.co.uk     02-Jul-2008          

Crystal Mate Most experts say that your housing costs should not be more, and preferably less, than 30% of your income. Is that a reasonable figure for most Canadians? The answer is a resounding _no_. The Canadian mortgage and...                    

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Home Equity Loans Canada- Your Questions Answered

kirberts.co.uk     02-Jul-2008          

In a November, 2007 report, the Canadian Association of Accredited Mortgage Professionals (CAAMP) stated that in the previous 12 months, 17% of mortgage holders took out home equity loans or increased their mortgage The average...                    

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Ins and Outs of Stated Income Home Equity Loans

kirberts.co.uk     02-Jul-2008          

Self-employed consumers looking to access the equity that has built up in their homes ? whether for investment purposes, to access capital for their small business enterprise, or merely to consolidate debts at a lower interest...                    

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Should You Sell Your Home Short If You Can’t Refinance?

kirberts.co.uk     02-Jul-2008          

There are a lot of people in a really tough position with their house right now You can't afford your mortgage payments, you don't qualify for a refinance, and you can't even sell because your property value has dropped so much...                    

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Home Mortgage Loan - An Overview

kirberts.co.uk     02-Jul-2008          

Alan Lim Gathering information about the structure and terminology of a home mortgage loan will assist in the decisions regarding obtaining such a loan. Here is a basic primer level outline of the subject. A home mortgage loan...                    

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Mortgage squeeze 'will continue'

bbc.co.uk     03-Jul-2008          

House prices have been falling in recent months, surveys say The availability of mortgages is expected to fall further in the next three months, lenders have told the Bank of England. Lenders say they will put a further squeeze...                    

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The right time to release equity?

moneyextra.com     03-Jul-2008          

Experts argue that equity release provides an attractive option for asset rich, income poor pensioners looking to release capital in a falling houseing market. But housing values and age longevity could conspire to produce,...                    

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Homeowners turn to loans to pay mortgages

timesonline.co.uk     03-Jul-2008          

Increasing numbers of hard-pressed homeowners and tenants are turning to personal loans and credit cards to fund their housing costs. More than 4 million households have taken out a personal loan or credit card to cover their...                    

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Mortgage Clinic: In some areas, options for borrowing are limited

independent.co.uk     02-Jul-2008          

I want to buy an investment property overseas. Should I release equity in my UK home, and where should I shop for a mortgage – in the UK or abroad? AD, by e-mail The majority of UK buyers overseas have indeed tended to fund...                    

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Mortgage squeeze tightens still further

thisismoney.co.uk     04-Jul-2008          

The number of new home loans has already plunged to its lowest level since records began. But the Bank said yesterday that the mortgage meltdown will become even more severe over the summer. New rules which make it difficult...                    

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