I have so many friends from Mexico, they must number near 100. Our old company employed a few spanish speaking loan officers and we brokered many of them mortgages. About 4 years ago INS started cracking down in our area, about the time we closed the company. They intercepted and stopped several loans in process.
I am interested in your feedback on this topic. What is your take on things today?
I am linking you to an agent who writes advice to these people who build our buildings, clean our homes, and serve us in so many ways. What a tough problem this is. Larry
From Jill Dizon: Riverside, Ca. Realtor
Using someone else’s identity to get a home loan isn’t a good idea…click here
… because you’re bound to be caught. Think about it. If you buy a house with someone else’s credit history, that address becomes associated with that name. The person is likely to find out at some point, and then you’re a sitting duck, right? And also, if you couldn’t have gotten that loan on your own, how will you make the payments?
Sounds dumb, and yet people try it. There was a case last year of someone who got a loan, bought a house, and then the listing agent was questioned months later because the person whose credit had been used found out about it and called the authorities. The agent hadn’t ever realized that the buyer wasn’t who he said he was. After all, he had provided all the necessary documents to his lender, right?