Catchword: liar’s loan

Filed under: English, Money & Finance

Part of speech: n.

Quotation: You rarely hear anything about individual borrowers who tell little white lies, the ones who obtain so-called “liar loans,” but they’re just as prevalent, if not more so. A young New Jersey couple, “the Deceivers,” said they intended to occupy the seaside house they were purchasing. When the mortgage insurance company checked, it found out they had bought the place strictly as an investment and were renting it out. So it kicked the loan back to the lender, and again, the lender called the loan due.

Article or Document Title:
“Mortgage Detectives Root Out Application Lies”

Author:
Lew Sichelman

Article, document, publication, web site:
Oregonian

Publishing location:
Portland, Oregon

Date of publication:
Nov. 9, 1992

This cite belongs to a full entry for liar’s loan.