Kukka telivithetalu by tejams

[Ravi860]

look at somebody posted this.. 🤦‍♂️ these guys can stoop to any level 

 

@Admin please approve, quite urgent !

Hello Expats,

I'm reaching out for some advice on a situation involving a close friend. They're in the process of buying a new primary home and intend to label their current residence as an investment property. In order to secure a more favorable interest rate, my friend has asked for my help in temporarily posing as his tenant by creating a fictitious lease agreement with me and my spouse. The plan includes him sending us some money, which we would then return and he would represent that as a deposit or rent. Once his processes are completed we will back out from the lease.

Currently we are living in an apartment and planning to buy a house soon.

I'm unsure whether I should go ahead and help him. I'm concerned about any potential negative impacts on us and or if any other issues that may impact us.

Any advice or insights you can offer would be greatly appreciated. 🙏😊

[jefferson1]

2 minutes ago, Ravi860 said:

In order to secure a more favorable interest rate, my friend has asked for my help in temporarily posing as his tenant by creating a fictitious lease agreement with me and my spouse.

deeni meaning enti?

[TacoTuesday]

Nothing wrong…trump and gundu bezos used the same system.. you reply them to proceed 

[veerigadu]

It is a federal crime. It is called occupancy fraud. IRS ki dorikithee assameee…FBI will take care of both husband and wife nicely. 

[jefferson1]

8 minutes ago, veerigadu said:

It is a federal crime. It is called occupancy fraud. IRS ki dorikithee assameee…FBI will take care of both husband and wife nicely. 

ikkada crime ento ardham kale

[shaktimaan]

12 minutes ago, veerigadu said:

It is a federal crime. It is called occupancy fraud. IRS ki dorikithee assameee…FBI will take care of both husband and wife nicely. 

which one. Lessor or lessee?

[andhrabullet]

Andlo crime sangathi .telidu... but ma frnds chala mandi chesaaru ila. 

[csrcsr]

10 minutes ago, jefferson1 said:

ikkada crime ento ardham kale

They are faking the lease for the current home which they are living , to show the bank as income , so that they can close the new home , in reality inka actual rental agreement ledu but very common practice most of the people who buy investment homes do , 

[veerigadu]

11 minutes ago, jefferson1 said:

ikkada crime ento ardham kale

Primary residence oka certain interest rates untayi. But investment house ki konchem 0.5% ekkuva untadhi rate. So people lie about their investment house. And they refer it as primary residence. This is considered as a fraud. Because you are misleading bank to give you a reduced interest rate. Simple email to bank is enough to attract some attention. Inka IRS radar lo padithe it’s a different story altogether. 

[veerigadu]

9 minutes ago, andhrabullet said:

Andlo crime sangathi .telidu... but ma frnds chala mandi chesaaru ila. 

https://www.justice.gov/usao-edny/pr/united-states-files-civil-fraud-suit-against-three-individuals-and-multiple-real-estate

[jefferson1]

4 minutes ago, csrcsr said:

They are faking the lease for the current home which they are living , to show the bank as income , so that they can close the new home , in reality inka actual rental agreement ledu but very common practice most of the people who buy investment homes do , 

 

2 minutes ago, veerigadu said:

Primary residence oka certain interest rates untayi. But investment house ki konchem 0.5% ekkuva untadhi rate. So people lie about their investment house. And they refer it as primary residence. This is considered as a fraud. Because you are misleading bank to give you a reduced interest rate. Simple email to bank is enough to attract some attention. Inka IRS radar lo padithe it’s a different story altogether. 

got it.

 

usually mana vallu they move to new home and rent the existing one right

[veerigadu]

18 minutes ago, jefferson1 said:

 

got it.

 

usually mana vallu they move to new home and rent the existing one right

As long as they use it with right intentions. It’s not a big deal 

https://www.fbi.gov/video-repository/newss-mortgage-application-fraud/view

https://www.washingtonpost.com/realestate/a-little-lie-on-mortgage-application-can-cost-you-big/2015/06/30/2e2dcff0-1e6b-11e5-aeb9-a411a84c9d55_story.html

[veerigadu]

27 minutes ago, shaktimaan said:

which one. Lessor or lessee?

Both. One is culprit. The other one is accomplice. Some people might get away with it. But one whistle blower is enough to shatter everything. Is it worth the risk? That’s a question one needs to ask themselves. 

[chittugaadu]

if they are leasing the current home they are staying. then what will they show as their current residence. 

the bank is not idiot, it will then calculate their current residence rent as expenses and will look at ratio of income vs expenses to determine mtge rates

[mettastar]

If they are planning to move anyway, you dont have to have lease in place on old home to purchase a new primary home kada ..