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Liar Loan Mortgages

By AccessLoss 127 days ago from http://www.accesslossmitigation.com

This article on Liar Loan Mortgages by Access Loss is very informative. It describes how banks were willing to make loans to customers who did not have to have their income verified. They are technically called stated income loans, which means that the income that is stated by the person receiving the loan is taken at face value and not verified. Now banks are having a hard time with customers being unable to pay their mortgages and are defaulting on their loan. A really interesting read!

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Tags: short sales short sale loss mitigation foreclosure mortgage shortsale


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