David Saks: Fraud for Housing : Sham On You ! (that's right, Sham not Shame)

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Fraud for Housing : Sham On You ! (that's right, Sham not Shame)

                                                    sham

                                          bogus

"Fraud for Housing" in which a borrower provides bogus information regarding his or her qualification for a loan, is a wicked thing to do. 

This includes lying about their income levels or their employment in order to qualify for a loan.

They even try to get better terms for the loan by the deliberate act of deviating from the truth 

We'd, of course, as real estate agents, like to believe that everyone can afford a home, but sadly know that's not the case, especially today now that it's ten times harder to get a loan.

We have to be doggone careful when counseling a buyer to never, ever, ever, ever suggest that they lie, cheat or exaggerate about anything on a loan document or anything else involving the transaction.  

Be honest. 

The Code of Ethics requires our members to treat all parties to any transaction with honesty, including lenders. 

When buyers stop lying they can start living.

Besides, misrepresentations wreck the economy.

It's going to take a while to clean things up, but together we will.

 




David Saks



Time&Temp Memphis

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Mr.Saks' participation in ActiveRain ended April 13, 2015.

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Comment balloon 0 commentsDavid Saks • June 01 2008 01:50AM

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