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  #1  
Old 05-23-2006, 02:11 PM
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Join Date: May 2006
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Signing 2nd mortgage papers

What is the name of your state? ID

My brother was in the middle of getting a 2nd mortgage on his house and lost his job on Friday. He hasn't told anyone and he's signing the papers anyway this afternoon. I'm really worried about him, because don't the papers specify that your signature means that nothing has changed, financially? Won't the mortgage co find this out somehow? What could happen to him?

Thanks for any help!
  #2  
Old 05-23-2006, 03:39 PM
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Join Date: Aug 2005
Posts: 1,964
What could happen to him?

He will likely be committing fraud, based on the paperwork he signs and lose the house when he can not make the payments on the loans.
  #3  
Old 05-28-2006, 10:25 PM
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Join Date: May 2006
Posts: 6
It will be a Federal Offence and even if he makes his payments on time it could be discovered during a compliance audit were some one may verify his employment for a second time (VOR) form. More than likely they would prosicute the loan officer only, if he/she had any knowledge of the fraud.
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