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Income mistake on a mortgage application

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Guest	Posted: Wed Feb 09, 2011 4:20 pm    Post subject: Income mistake on a mortgage application Like 0 Dislike 0 We recently discovered that my Wifes income was off by exactly $1000 on the mortgage application for a home we purchased a few years back. Specifically she made 5323/mo but the application had 6323/mo. It appears to me that this was a simple mistake, but we did sign the application. Can the lender come after us if we were to short sale or foreclose down the road?
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Wed Feb 09, 2011 8:18 pm    Post subject: Like 0 Dislike 0 Hi Guest, Whether or not there was an mistake regarding the income, the lender will come after you and your wife in order to recover the deficient balance resulting from short sale or foreclosure. _________________ Procrastination is the enemy of your financial success
Guest	Posted: Wed Feb 09, 2011 8:35 pm    Post subject: Income mistake on a mortgage application Like 0 Dislike 0 Deficiency judgment is a different issue based on state laws. Does the application mistake (explained above) specifically give the lender grounds to come after us outside of deficiency laws?
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Wed Feb 09, 2011 9:50 pm    Post subject: Like 0 Dislike 0 Welcome Guest, It might give your lender grounds to come after you outside the deficiency laws. You should have a word with an attorney in this regard and sort out the matter. _________________ Procrastination is the enemy of your financial success
Karmapolice Joined: 13 Feb 2011 Posts: 20 3.50 Dollars($)	Posted: Sun Feb 13, 2011 1:24 am    Post subject: Like 0 Dislike 0 Yes, They can and most likely will come after you if you come short. _________________ mortgages for people with bad credit available here. Instant cash out refinance quotes USA wide.
hermanscalderon Joined: 11 Sep 2011 Posts: 1 1.13 Dollars($)	Posted: Sun Sep 11, 2011 9:58 pm    Post subject: Like 0 Dislike 0 Well i think the lender can come after you. [External link deleted as per forum rules. Thanks.]

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