What would happen if i lied about my age on a mortgage application ?
Answers:
Assuming the bank bothers to check the credit report before issuing the loan, you will simply be denied. If the mortgage is actually issued and then the bank learns what happened, the bank will sue you to rescind the mortgage on the basis of fraud. You will be forced to pay back all amounts due immediately. If you cannot, then you will lose your house.
You could also face criminal charges for fraud. Since you have to sign everything you submit to get the loan, including an affidavit that you did not lie about anything, that will be really easy to prove. Therefore, you will go to jail.
It doesn't matter what age you put on your application, once your credit is run, the report will reveal your real age to your broker.
Huh? Of course they will take you seriously. Your age has nothing to do with your ability to get a loan. Do not lie on a credit application.
Most of the time your credit report has your date of birth or age listed. If you lie they will see the discrepancy and ask you about it. I'm surprised they have not asked for a copy of your driver's license to put in the file.
Also, it's not a good idea to lie about anything on a loan guaranteed by any government agency.
Good Luck.
You have to be 18 to sign a legal contract. At closing you have to submit ID to the notary and if its like most loans your legal ID has to be include in the file since the patriot act. There is no reason to lie if you are over 18. It makes no sense and brokers dont care how old or not old you are.
If you are 18 or 65, black white or purple... we dont care we just follow the numbers and age is not an issue if you can legally sign the documents. If you are 16 and say you are 18, you would have to have a court order that shows you are emancipated and recognized as a legal adult.
Lenders wont care. There is no reason to lie about your age.
*Is there anybody besides me thinking this person has already did it? And got caught and asking what the penaties he might face are?*
In utah I think its 25,000 and up to 10 years in jail. Thats just state I think its 1 million and 25 years in jail if its a government loan... ask the lawyer... Just dont do it if you havent.
They will know that you are lying about your age when they first look at your drivers license and second when they check your credit report, it reports your age as well as numbers.
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