What kind of trouble can you get into for turning in a false document to a loan place?

me and my boyfriend are having a discussion and would like some extra input. if you are applying for a home loan and the mortgage company tells you to get a document signed knowing that by getting it signed it is not 100% truthful if the lender finds out what kind of trouble will you get into? we have a friend who has asked our advice and we do not want to give him a bad unresearched answer.

What kind of trouble can you get into for turning in a false document to a loan place?

If the fraud is found within the file by the lender, then you will have defaulted on your loan, the lender will most likely demand payment in full for the full amount of the mortgage and there is a good chance that you will be prosecuted by the mortgage lender. Fraud is not being taken lightly and is being dealt with very strictly. Random files are always audited by the lender, by FNMA and FHLMC and by the investors who buy, sell and transfer mortgages. You absolutely, under no circumstances want to ever commit fraud. There will be severe consequences if the fraud is discovered.

What kind of trouble can you get into for turning in a false document to a loan place?

thats falsification of public document...

What kind of trouble can you get into for turning in a false document to a loan place?

The answer above is correct. The lender can call your loan due and payable along with legal ramifications. In some cases, it will be considered a federal offense with jail and/or fines. Think twice before doing this. There are other ways to get loans without falsifying documentation. It may cost you more in interest rate, but you could sleep at night without worry.

CA Lender

What kind of trouble can you get into for turning in a false document to a loan place?

Prison...because it's a felony.

It states right on the loan application that any falsified information is punishable up to 5 years in prison or $10K in fines.

If the lender finds out post-closing, they have the right to %26quot;call the note%26quot;...that means unless you can come up with CASH to pay the entire balance off...you are homeless.