I manage rental properties and received a Verification of Rent/Mortgage form from a lender for one of the tenants. Can I be sued by the tenant/borrower for disclosing that her rent is in arrears?
2006-07-21 18:08:08 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Honestly, I have no clue, but I really think this is the wrong place to be asking such an important question. You will either get no responses, or you'll get bad advice because most people on here aren't realtors or lawyers. Good luck though?
2006-07-21 18:13:06 · answer #1 · answered by JennBride 2 · 0⤊ 0⤋
No. But if you lie on the VOR (verification of rent) you are commiting mortgage fraud by saying that they are not past due when in fact they are past due. Tell the truth and let the borrower deal with the consequences. They may not qualify for the loan or will have to have a higher interest rate but that is not your problem. The whole purpose of the VOR is so the lender knows if they are behind.
http://www.lendermark.com
2006-07-22 08:00:25 · answer #2 · answered by lendermark1 2 · 0⤊ 0⤋
Sure you can. Anyone can sue for pretty much anything in the US. However, that suit would not prevail if you have proof that there is still an outstanding debt. A decent attorney could probably get it tossed as frivolous and recover your attorney's fees and court costs as well.
2006-07-21 20:55:54 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
No. Also, just for your piece of mind, did the resident sign the form giving permission. Bet even if they did not, as long as you do not fabricate anything, you are fine. Just make sure to only answer the questions asked and do not add anything else.
2006-07-23 08:14:44 · answer #4 · answered by peach 4 · 0⤊ 0⤋
No, you can't be sued for that, but if you lie and say they don't owe rent, the lender may be able to come back on you legally..
2006-07-21 18:27:37 · answer #5 · answered by MIGHTY MINNIE 6 · 0⤊ 0⤋
I'm not sure. I think you can in some states...
2006-07-21 18:11:18 · answer #6 · answered by net_at_nite 4 · 0⤊ 0⤋
no
2006-07-21 18:10:43 · answer #7 · answered by ? 7 · 0⤊ 0⤋