Legal Question in Real Estate Law in Virginia

On a mortgage application if someone states the down payment money is from savings when it actually is from a line of credit what will happen? They would not have gotten approved I do not believe if they said it was from their line of credit


Asked on 1/05/14, 5:41 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

This "someone" who apparently provided false information on his

or her mortgage loan application could possibly be subject to

federal prosecution for fraud and/or related offenses if the lender is

a federally backed financial institution.

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Answered on 1/05/14, 8:35 pm


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