[john2000]

My friend is on H1b visa with good credit score. He has got mortgage loan approved. But he found out that his real estate agent applied for the loan stating that he is an US citizen. My friend did not notice this while applying but recently figured out that on his application he was represented as US citizen. Now my question is will he end up in any problem. If so what should he needs to do to get out of the situation?

[JudyKayTee]

My friend is on H1b visa with good credit score. He has got mortgage loan approved. But he found out that his real estate agent applied for the loan stating that he is an US citizen. My friend did not notice this while applying but recently figured out that on his application he was represented as US citizen. Now my question is will he end up in any problem. If so what should he needs to do to get out of the situation?

If your friend lies (or lied) on his mortgage application the mortgage can be called in at any time for fraud.

He needs to notify the mortgage company and the real estate agent of this error.

[john2000]

My friend is on work visa and has bought a house with mortgage loan. As he got very good credit score his loan was sanctioned immediately, but recently my friend recently realized that his real estate agent misrepresented as US citizen instead of Foreign National. Now what steps he has to follow in order to come out of this.

[JudyKayTee]

My friend is on work visa and has bought a house with mortgage loan. As he got very good credit score his loan was sanctioned immediately, but recently my friend recently realized that his real estate agent misrepresented as US citizen instead of Foreign National. Now what steps he has to follow in order to come out of this.

Please don't keep posting the same question with a slight twist in the facts, particularly after you've received an answer.

[Fr_Chuck]

Yes, everyone needs to be notified. This will not effect all lenders, it will effect some.

[john2000]

Please don't keep posting the same question with a slight twist in the facts, particularly after you've received an answer.

I am sorry. When you said I must contact legal attorney, I thought I need to post it in legal thread, and I did not find relevant section so I posted. Please discard my posting if all the sections are the same.

Thank you.

[JudyKayTee]

I am sorry. When you said I must contact legal attorney, I thought I need to post it in legal thread, and I did not find relevant section so I posted. Please discard my posting if all the sections are the same.

Thank you.

No problem - a monitor will come along and put the 2 posts together.

No, the "If you need a binding legal opinion..." is my signature, not advice in this case. Your friend certainly could telephone an Attorney in his City for legal advice but otherwise someone has to notify the mortgage company of the error.

[excon]

Now what steps he has to follow in order to come out of this.

Hello john:

I don't know what he has to "come out of". I ALSO don't know how his real estate agent filled out his loan documents. Frankly, I'm sure they didn't. So, if there's a mistake on his application, HE made it. I believe there's a thing at the bottom stating that with a signature, YOUR FRIEND is saying that everything in the application is correct. So, it's YOUR FRIEND who is on the hook.

Look, there's no upside to his informing his mortgage company of the error. At worst they'll take his house and charge him with a crime. At best, NOTHING will change...

So, if it was ME, I'd let things lie, and make sure I made my payments ON TIME.

excon

[ScottGem]

I've merged the two threads.

I tend to agree with excon here. Most people don't go over paperwork that closely so he might not be held to accountable if he doesn't report it.

I also don't know where exactly this was placed, but I strongly suspect the bank did their research and already know.

So I would let well enough alone and make sure the mortgage payments are made on time.