anyone work for or no about finance co. I need help (foreclose, leasing)

[ljcincy]

I have a friend who has a good income ok? she has bad credit but no where to live if she is not truthful about her employment on an application with a loan company will she get caught? I am worried... but i also dont think they will find out. and they need a home mer and her 4 kid! Thanks

[bubbagirl]

As a person who has worked both for the loan companies and as a collection agent... yes, they will see right through her application. And, its not that she'll get "caught" - they just won't extend her the credit she's looking for, and taking the time to apply for a loan you know you won't get just ends up hurting your credit report that much more in the end.

She *might* be able to squeeze by an appartment leasing manager who is not paying attention and desperate enough to make a sale, but she will get turned down by any ligitimate company looking to loan some funds, especially if it were for as much as a mortgage. The best thing she can do is try to work with a private landlord to create a positive rental history and take the time to clean up the credit or create time on the job. Kids or no kids, we all have to deal with what we have to work with, and ... you have to look their position. Why would they take the chance of loaning a large amount of money to someone who might not fit 'ideal' criteria when it could end up costing them several thousand dollars if she either 1. loses her income for whatever reason and forecloses, or 2. takes advantage of the loan, pays when it is convenient, then skips town? As a personal friend, you may say "no, she wouldn't do that" but how do the mortgage companies know that? They base their lending practices on what they feel is reliable and stable to maximize profit.

[ljcincy]

Thank You, I apperciate this. I work in the business end of s large company. However she was asking me if there was a way that they could match a check stub up with the Govermant? Hell I do not no this. Butt you no what she is a good person far as paying her bills on time has a good job! just got hooked with some druggie that took her for a ride you no? And that is sad that the kids suffer for her por misjudgement, **** I might co-sign for her!