What's my liability in this?

[KarenMarie]

Originally posted by: dug777
Um, grow up and embrace common sense?

Welcome back.

 

[mugs]

Originally posted by: mcvickj

Originally posted by: jjsole
My first reaction was to help out a friend, but I guess the more I think about being in on fraud the colder I'm getting to the idea. I'm not too worried about saying no, he needs my rent too much right now to turn me out.

He is that tight for cash and wants to buy another house? Don't even give this a second thought. You are putting way to much on the line to risk it.

Uh, yeah.

The guy might not need your rent too much to turn you out, but the bank won't need your rent when they start foreclosing on his properties.

 

[NL5]

While this would technically be fraud, I wouldn't be so naive to believe that this sorta thing doesn't go on ALL THE TIME. In the US corporate economic system you must cheat at least a bit in order to compete. If you truly complied with every nit-picking rule, you would fail. Period.

 

[Miramonti]

Originally posted by: kranky
Since he is already willing to give false information to the bank, why isn't he willing to just forge your name on the fake lease?

Good point, and my girlfriend echoed something similar. Since its a fraudulent lease I don't think getting my personal signature will help him any more or hurt him any less regardless of what happens.

 

[Miramonti]

Originally posted by: Mark R
I recommend that you speak to someone qualified to advise:

Try calling (505) 889-1300 in the first instance.

lol

 

[Miramonti]

Originally posted by: KarenMarie
My Nana once told me....

Never put anything in writing that you would not want read in public

and

Never sign anything that you would not want to live by.

There's plenty of wisdom there. If I were younger and more of a trusting people-pleaser that I was (and still can be) I might have readily signed and trusted his words that 'its not a big deal.' Perhaps my age or the many episodes watched of Judge Mathis, I hesitated.

 

[Miramonti]

Originally posted by: NL5
While this would technically be fraud, I wouldn't be so naive to believe that this sorta thing doesn't go on ALL THE TIME.

His real estate friends suggested this I'd guess you're right, its probably common. In fact when he bought his first house, he told his mortgage broker he make 35k, but the broker in turn wrote down 80k. He had a high credit score back then so apparently his income didn't need verification.

 

[Miramonti]

I called him this morning and expressed kranky's logic and he seemed to accept it ('if he's willing to commit fraud, why not forge it himself'). He and his gf are coming over for lunch tomorrow so we'll see where that goes. Perhaps the bottom line is 'friends don't ask friends to help commit fraud'. (especially for nothing in return. )

Hopefully tho the thought of forgery will cause him to take a step back from this entire approach.

Either case I won't be involved.

 

[doze]

Just say that your not comfortable signing it but he can do whatever he wants as long as you don't know about it.

 

[Miramonti]

Originally posted by: doze
Just say that your not comfortable signing it but he can do whatever he wants as long as you don't know about it.

That's pretty much how the conversation went.

 

[smack Down]

Originally posted by: jjsole

Originally posted by: NL5
While this would technically be fraud, I wouldn't be so naive to believe that this sorta thing doesn't go on ALL THE TIME.

His real estate friends suggested this I'd guess you're right, its probably common. In fact when he bought his first house, he told his mortgage broker he make 35k, but the broker in turn wrote down 80k. He had a high credit score back then so apparently his income didn't need verification.

I would give it 3-6 months before he gets for closed on.

 

[classy]

Wow that is a felony and I guarantee will get you a few years in prison.

 

[iRONic]

http://money.cnn.com/popups/2006/fortune/fraud/4.html

 

[cmv]

Sounds like you made a good decision. Sometimes really bad ideas don't seem all that bad at first until you think them through.

 

[NL5]

Originally posted by: smack Down

Originally posted by: jjsole

Originally posted by: NL5
While this would technically be fraud, I wouldn't be so naive to believe that this sorta thing doesn't go on ALL THE TIME.

His real estate friends suggested this I'd guess you're right, its probably common. In fact when he bought his first house, he told his mortgage broker he make 35k, but the broker in turn wrote down 80k. He had a high credit score back then so apparently his income didn't need verification.

I would give it 3-6 months before he gets for closed on.

I wouldn't hold my breath - ask ANY mortgage broker how common this is. He has rentals, so most likely he has assets.