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Many families who took out a liar's mortgage discovered, after lenders finally checked their paperwork, that they could no longer afford the monthly payments.
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Many families who took out a liar's mortgage discovered, after lenders finally checked their paperwork, that they could no longer afford the monthly payments.
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Related words
liar's mortgage
Noun
derogatory
informal
no-plural
Japanese Meaning
(口語的・侮蔑的な表現)借り手の収入や雇用状況に関する情報を金融機関が確認せずに、自己申告の情報に基づいて担保となる住宅ローンを認めた融資。 / (米国ではstated-incomeローン、英国ではself-certificatedローンとされる)真実でない情報に依存して行われる住宅担保ローンのこと。
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