I’ve looked in to things like HELOCs before, and from what I know when you’re looking for something like that or some sort of loan that needs some underlying collateral banks usually use appraisers to determine the value of something you’re taking a loan out against. Do people who commit fraud somehow just say “Yup, my properties are worth $X,XXX,XXX” and the banks just gave him loans based on their words? During any of these processes do appraisers get involved? How can you get loans by just saying “My property is worth this much” Do people alter the financial records of how much income properties are making so banks assume buildings are worth that much? Don’t things like the physical characteristics / condition of a building itself, and the location, and similar comps mostly dictate the price tag of real estate?
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Some other aspects they look at is your income. So you could take your bank statements to show that your paychecks are more than they actually are.
> Don’t things like the physical characteristics / condition of a building itself, and the location, and similar comps mostly dictate the price tag of real estate?
You think the bank themselves are going to your property? If you bring an appraisal report, that could be doctored as well as your bank statements.
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