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Old 10-03-2013, 07:24 PM
 
Location: Kansas City North
3,624 posts, read 6,756,846 times
Reputation: 4630

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In addition to your possible mortgage fraud problems, you have failed to be truthful with your auto insurance co. As to where you live. If you had a claim, that very well would be grounds to deny paying it.
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Old 10-03-2013, 08:45 PM
 
Location: Brentwood, Tennessee
39,003 posts, read 37,656,456 times
Reputation: 73578
Quote:
Originally Posted by emaki View Post

Health insurance is also covered til we are 26, so we aren't getting married until then.
You should know this ^^^ isn't something to brag about ...

You two have a LOT to learn about handling problems maturely. You can't just "gloss over" information about where you live etc. when you're dealing with legal documents like mortgages and insurance.

Reporting a change of address is a lot more convenient than lawsuits and jail time.
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Old 10-04-2013, 07:52 AM
 
9 posts, read 16,158 times
Reputation: 10
Health insurance is very expensive for me due to medical problems... And the place i work does not offer health insurance.

And yes I realize something "could" happen but its a lot better than my car being towed away if i get pulled over by police (in my city, they are allowed to tow your car away if you don't have insurance) I had a claim a few months ago that went through with no problems. Then again, I come from a city where insurance is required yet about 40% of motorists do not have it anyways...

Back to my original topic: I looked over the original paperwork and the only place that "rent" or lease was mentioned was in the calculations part, which is basically "how much we think we can afford" and the total debt to income ratio part (what the computer program calculates). It was never a factor in any way as far as I can tell..

The only thing I'd see considered as "fraud" is if i had doctored any of my income/bank statements/etc. If they ask for my other bank account, then I give them what they want. It goes along what my loan officer had said. If they don't want to see it, then it won't matter to them.
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Old 10-05-2013, 08:10 PM
 
48 posts, read 105,294 times
Reputation: 104
Quote:
Originally Posted by emaki View Post
....we've been together for 10 years but never actually lived with each other...
Quote:
Originally Posted by emaki View Post
....We are 23 and not a lot of people buy houses when they are only 23,......
You've been together since you were 13?? That's crazy! (Not downing you at all, just rare to ever hear that.) Good Luck with the new house!
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Old 10-06-2013, 09:19 AM
 
Location: MID ATLANTIC
7,598 posts, read 17,614,249 times
Reputation: 8078
There's a new phrase in mortgage lending that applies to the OP's situation to a "T," called convenience fraud. It's taking the industry by storm, whether performed by the borrower or the loan officer, or even the loan processor. But none of this is enough to wind someone in jail. However, reading the OP's post, it's apparent there's a rude introduction to reality on it's way.
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Old 10-07-2013, 05:55 PM
 
Location: Vermont
5,439 posts, read 14,324,626 times
Reputation: 2609
Was there a form that asked where you currently live , and you put your parents house?

Generally rental related info has not been part of getting a mortgage for me. I don't remember my bank asking me what my rent was or when my lease ended on my apartment. It wouldn't be considered part of your debt:income ratio either.
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Old 10-08-2013, 05:48 AM
 
Location: MID ATLANTIC
7,598 posts, read 17,614,249 times
Reputation: 8078
Quote:
Originally Posted by joe moving View Post

Generally rental related info has not been part of getting a mortgage for me. I don't remember my bank asking me what my rent was or when my lease ended on my apartment. It wouldn't be considered part of your debt:income ratio either.
Post mortgage crisis, housing shock, that is the increased percentage of what was being paid to the proposed amount is now considered when reviewing a mortgage application. Freddie loans actually require some sort of payments history towards housing. In the OP's situation, she would have 100% housing shock, which is one layer of risk.
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Old 10-10-2013, 09:16 AM
 
9 posts, read 16,158 times
Reputation: 10
Thank you for all the feedback.

I have been approved and will close next week.

Looks like everything turned out fine, though I probably wouldn't put myself in that position again!

Joe Moving was probably close to my actual situation, it wasn't really mentioned or put into the paperwork except when they were doing the pre-qualifications.
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