2006-09-25 18:28:31 · 8 answers · asked by pyt_tlc 3 in Business & Finance ➔ Renting & Real Estate
You cannot misrepresent who you are on a mortgage application. It is fraud. however, you can own the house as a "married woman sole and separate property" but your husband would have to sign a "quitclaim" to release his rights to the property.
2006-09-25 18:46:03 · answer #1 · answered by Debbie P 2 · 1⤊ 0⤋
If you intentionally put single on the application knowing that the law categorized you as still married then the anwers you got about committing fraud is correct. In a community property state both spouses will be held responsible for the actions of one. Our state is a Community property state and it happens here all the time, it never ends up in any legal ramifications because the title companies require proof of legal capacity and when this issue is discovered no insurance, therefore the loan can not be made. The burden of proof is whether you did it intentionally or innocently even though in both cases it is still fraud.
Buena Suerte
2006-09-26 01:37:48 · answer #2 · answered by newmexicorealestateforms 6 · 1⤊ 0⤋
It's fraud and it's a criminal offense. In a community property state, your spouse will have to go to closing and sign with you. While you are legally married your spouse will be on title, regardless of your living situation. The title company will search local records and easily discover that you are married. Then the mortgage company will ask for copies of your divorce papers, which you won't have, and you won't be able to close so you'll be in default of the sales contract and will lose your earnest money. If the seller wants to sue for damages, you won't have any defense because you committed fraud. You should probably hold off on buying real estate until you are divorced.
Rick Lanicek
http://www.primelendingonline.com
2006-09-26 01:26:20 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Nothing Happens. The lender is not going to investigate you for it.
Under the Equal Credit Opportunity Act a lender can not deny credit for marital status. So just be honest in your application.
2006-09-25 20:18:05 · answer #4 · answered by greenshirt 2 · 0⤊ 1⤋
the valuables is the deed, no longer the loan. Having one or both human beings on the loan received't count number in any respect. in spite of the indisputable fact that the valuables should be held in both names till she signs and indicators it somewhat is she relinquishes her perfect to the valuables. In Calif the deed will be filed as: A Married guy/woman as His/Her Sole and Separate property
2016-11-24 19:31:25 · answer #5 · answered by meske 4 · 0⤊ 0⤋
You just committed a federal crime. Mortgage fraud is a federal offense.
2006-09-26 04:58:35 · answer #6 · answered by Karen R 3 · 0⤊ 1⤋
It's called mortgage fraud.
2006-09-25 18:30:57 · answer #7 · answered by joy 3 · 0⤊ 0⤋
Fraud, that's what! Don't do it. The penalties are NOT WORTH IT! Don't try and defraud.
2006-09-25 18:51:08 · answer #8 · answered by Anonymous · 0⤊ 0⤋