Recently I have read several articles about borrowers “fudging the truth” on their loan applications. It seems the lenders are now looking deeper into what you put on your loan application. One seemingly “innocent” lie is occupancy, claiming to purchase a home for full time occupancy then using it as a rental or investment property. Lenders consider this to be fraud and are now starting to crack down. Check out this story and double check your facts when completing a loan application.
