The following case is quite instructional. I tell people all of the time, if you file a bankruptcy you better make sure that the figures closely match what you submitted in your loan modification package. Because it does not, you could get caught committing loan fraud or bankruptcy fraud. In the case below, a borrower asked for a loan modification and was required to submit tax returns (or easily could have been that they signed a 4506T). When the Tax Returns did not reflect the amounts stated in the original loan application, the borrower was BUSTED!!!! As I say it is very hard to tell a good lie. The consequences can be devastating. If you are going to apply for loan modification, bankruptcy, shortsale or any other foreclosure relief defense, make sure you hire an attorney who can coordinate all of the facts and figures so that you are not brushing up against potential civil and or criminal liability for mortgage fraud. ITS WORTH to hire an attorney. Many attorneys offer reasonable rates and easy payment plans. Don't short change yourself because you think you can't afford an attorney. You can afford to go to jail even less!!!
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