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Profile picture for LSmith89

Ahh, I am anxious! Please help!

We bought our current residence in 2006 and it has been our "primary residence" the entire time.  In 2009 we rented another home briefly due to needing more room, but moved back into our home due to the inconvenience of paying both our current mortgage and the rent. One of the questions the LO asked us is if this has been our primary residence the entire time and I said "yes".  Well, I started getting paranoid and did something really stupid.  When I faxed over our W2's, three out of the four had our address as our current home except one which had the rental's address listed.  WELL I whited it out and changed the address!! Well, now I feel horrible about it and I have confessed it to my priest.  However, I know the loan officer will see the discrepancy if he looks at W2's he gets with our tax transcripts. I want to tell the LO what I did but I am afraid to do that and I am afraid they will deny the application due to this.  I am so upset at myself for doing something like that. 

Here are the stats on our Financial info: 
 - keeping our current home but will rent it out and move into the new purchase. 
 - with our current mortgage/debt we are at 20% debt to income, with the new purchase we will be at 31%
 - $10,350 monthly income
 - $15,000 in bank,  $7,600 is needed for the closing cost and down payment (price is 119k, with us putting 5% down)
 - we have both been employed at our current employers for 5+ years
 - the lessor median credit score the lendor is using is 697 (all my husbands were in the mid 700's)
 - bought a new car last month but that has not shown up on our credit score yet, and we are being asked to provide a letter of explanation for that as well.

What do you guys think I should do? I feel so so guilty. Please help me figure this out.  Thank you

  • September 17 2011 - Charlotte
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Answers (19)

Profile picture for Sharon Lewis
I am so relieved for you that things worked out well. It is so stressful buying a house, I agree, there are some 'sharks' swimming in these waters.
Best of luck to you in your new home, I hope it brings you years of happiness and good health for you and your family.
  • November 05 2011
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Profile picture for sunnyview
I am so glad to hear that you got the house! Everyone makes mistakes so I am glad that you were able to come clean and have everything turn out ok. Enjoy your new home and thanks for the update. :)
  • November 04 2011
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Profile picture for LSmith89
Well thank you to all out there, especially those that were positive and understood that this was human error and my I did feel badly.  BUT I had no reason to feel bad.  I called my lender and I called the place of employment that I got the w2 from. Both told me that it was fine that I change the w2's address.  They both stated that it was up to me to ensure that the address on the w2 was correct since they could not go back and change it.  Since I did NOT change any of the financial information on the w2 and it matched what was found on IRS transcripts I had no need to worry.  I did explain the situation of living at another address through a LOE to the lender though.

Rudi Hofmann - I did NOT commit mortgage fraud, as all of our financial and residential information was as I stated it was. I did not lie about anything on the loan application...where is the fraud? I did not lie when I changed the address on the w2 either, because we did actually live at the address that I changed the w2 to....where again is the fraud?

Norm D. Plume - Jail, really? For changing the address on a w2 to the correct address that it should have reflected in the first place? Though we did live at the rental property, it was brief, and I should have changed our address immediately when we moved back to our primary residence. But I didn't, and was told that there was nothing fraudulant about changing the address on my own after the fact.

Looking back at the mini crisis that I had I feel like an idiot for posting about it on this forum. To see some of the responses that I recieved compared to the real life responses that I got I am just surprised that I stressed so much about this.  Before you guys go off accusing people of outright fraud and stating that people could go to jail maybe you should really take into consideration the context of situations. Those types of accusations are pretty serious. I am a little annoyed that I trusted a loan-officer strangers on the internet about this.

To those that were good natured and funny, I appreciate your responses. We did get the house. 


  • November 02 2011
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"I imagine the priest--either directly or indirectly--advised you to correct your actions." Wow, is that off the wall or what?

Happy funding, Rudi
  • October 11 2011
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Profile picture for wordsmth
I hope everything's worked out. You knew--from your conscience--what you'd done was wrong. I imagine the priest--either directly or indirectly--advised you to correct your actions.

The right thing to do was to contact your loan officer immediately and provide the correct information.

The ironic thing is that the brief rental period probably wouldn't have made any difference in the loan officer's actions or the underwriter's decision.

Look: Use this as a learning experience. Be honest, listen to your conscience, and be willing to live with the consequences.

Hope that helps.
  • October 11 2011
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Hoping this has all been resolved for you in the past month!  You knew what you needed to do and I'll bet you did the right thing.  
  • October 11 2011
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Shame on you. You committed mortgage fraud. Your LO needs to correct this ASAP. Not for the loans sake, for your sake.

All is not lost. He'll tell you want needs to be done to move forward. If your loan package has already been submitted to the lender will make all the difference in how to proceed.

Happy funding, Rudi
  • September 18 2011
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fine?   Try jail.



  • September 18 2011
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You have to disclose the correct information to the loan officer. If the documentation is reviewed at a later date and someone finds it is not true, you could be subject to a fine!
  • September 18 2011
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Profile picture for sunnyview
I actually applaud your crisis of conscience. It is nice to see someone who wants to right a situation. Good luck with your close.
  • September 18 2011
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Profile picture for Sharon Lewis
Always tell the truth.
  • September 18 2011
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Honestly, I would tell the underwriter that you lied to me and they need to scutinize the rest of the file.  If your loan fell even a little outside the box I would lean towards declining your loan.  How would I know you didn't mislead, lie or falsify other documents?
  • September 18 2011
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Profile picture for wetdawgs
May your confession to your LO go well.   You probably know how you feel if you've been lied to even if the person swears  up and down it was only one little lie.   In my professional life - There wouldn't be much trust, and the file would reviewed with considerably more scrutiny than if it hadn't happened.  But, that is not a reason to not describe what you did.  It will be better that way than them discovering it themselves.

  • September 18 2011
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Profile picture for LSmith89
@Andrew Adams - I know this!!!! No one likes to be lied to - but it happened and I feel like a major idiot.  I know he will probably be "PO'd" but what does that mean in reality? If you were the LO and this happened to you, what would you do?  If the loan is going to go through and you found out the person changed one address on one W2, but all the financail info was the same, what would you do? I dont know anything about the mortgage lending industry so I am not sure if this is something that can be rectified and I can move on from or not concerning this loan.  Thank you!
  • September 18 2011
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So cal nailed it!

It makes life so much easier when you tell the whole truth and nothing but the truth!  Had you been honest upfront probably a non issue...The fact that you have lied...and altered supporting documentation to cover up your lie!  I know if I were the LO I would be pretty PO'd!
  • September 18 2011
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Profile picture for LSmith89
@wetdogs - that is funny.  I am considering it.

@Clay - Thank you, I know and that is what I intend to do.  The new car payment is $300, not $700 and they are aware of it.

I got so wrapped up in not knowing if it was important or not if we lived at a different residence during the last several years that I did something I regret. 

Thank you for the time and the answers
  • September 18 2011
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Congratulations, you have now put the loan officer and maybe the mortgage company at risk too. In addition to trying to hide the facts on the W-2's it sounds like you also want to hide the facts on the car purchase if it means you will be turned down. The first thing you need to do is contact the loan officer and tell them you changed the W-2. The 2nd thing is to disclose the terms for the new car. What the mortgage company does from that point is anyone's guess. BTW, it doesn't matter if you lived in the existing home or not and a new $700 car payment puts your DTI at 38%.        
  • September 18 2011
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Profile picture for SoCal Engr
If you are seriously asking "what to do", you know what to do. You just don't want to do it - or else it would already be done.
  • September 17 2011
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Profile picture for wetdawgs
Humbly - may I suggest a priest is not normally recommended as a financial adviser.   If your choices (including car purchase) would disqualify you, wouldn't you prefer to hear now rather than later?  

Or: Please offer three bags of cheese poofs and a pitcher of margaritas (made with fresh squeezed lime juice) to the Zillow shrine, and all will be well.
  • September 17 2011
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