Mortgage Application Fudging

Getting financing for a home can be a stressful event, particularly if the time for escrow is running out. Given this, the temptation to fudge on certain aspects of the mortgage application can be highly tempting. Don’t Do It! First off, the things you are worried about may not be a big issue. I had one friend who filed bankruptcy eight years ago and “forgot” to put it on his application. The lender found it and rejected his application. A representative told him that he would have been approved with the bankruptcy had he mentioned it since the event occurred so long ago. Second, you don’t want to be accused of fraud. If you borrow a bunch of money under false pretenses and then default on the loan, nasty things can start happening with the authorities.