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View Diary: Banks Reporting Phantom Income on $1.4T Delinquent Mortgages (29 comments)

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  •  Usually these loans are given... (0+ / 0-)

    from banks where the borrowers already have substantial assets in them and the only liar's part is the income not the assets...assets are verified (bank/investment accounts)...

    For instance, I have all my accounts at Bank of America so they can directly verify the balances in my bank/investment accounts and see that deposits were made into my business account...regardless of my actual income...

    Obama - Change I still believe in

    by dvogel001 on Fri Jan 28, 2011 at 09:16:52 AM PST

    [ Parent ]

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