Can you lie about your marital status?

Can you lie about your marital status?

It could be illegal, however, if that false information is used as sworn evidence or to gain financing. Regardless, any perceived advantage gained from intentionally lying about verifiable facts, such as marital status, is outweighed by the potential for future legal issues. In short, don’t lie on a deed.

How do mortgage lenders verify marital status?

A borrower’s marital status is reflected on a mortgage application after he selects married, separated or unmarried. A mortgage lender may not inquire about a borrower’s spouse unless financing is requested for a joint application.

Can I get a loan without my husband knowing?

Loan application with stamp of approval. When you get married, nothing prevents you from applying for credit as an individual borrower. In many instances, you can establish credit accounts without the knowledge of your spouse.

Can a creditor ask about marital status?

When a request for credit is joint (made by two or more individuals who will be primarily liable), the creditor may ask the applicant’s marital status, regardless of whether the credit is to be secured or unsecured, but may use only the terms “married,” “unmarried,” and “separated.” This requirement applies to oral as …

What are the only three reasons a creditor may deny credit?

When You Apply For Credit, Creditors May Not… Discourage you from applying or reject your application because of your race, color, religion, national origin, sex, marital status, age, or because you receive public assistance.

When asking a borrower their marital status what can you ask?

Lenders have to be careful when talking to a potential borrower about their marital status. They can’t ask you whether you’re single, divorced or widowed. Instead, they can only ask if you’re married, unmarried or separated.

Which types of credit are most similar to each other?

Answer: The answer is “auto loan and mortgage loan”. Purchasing another or marginally utilized auto and acquiring a house are two of the greatest money related advances we make in our lives.

What are the three C’s of credit?

For example, when it comes to actually applying for credit, the “three C’s” of credit – capital, capacity, and character – are crucial.

Does opening a line of credit hurt your credit score?

Very often, the lower your credit utilization (how much credit you’re using compared to your total credit limit), the higher your credit score. When you open and use a new credit card or line of credit, you’re getting closer to your credit limit, which could mean a lower score.

What are the 5 types of credit?

Types of credit accounts

• Credit Cards.
• Retail Store Cards.
• Gas Station Cards.
• HELOC (Home Equity Line of Credit)

What are the 2 main types of credit?

It may seem like there are endless types of credit to choose from at your local financial institution, but there are actually only two types: revolving accounts and installment credit.

How many credit cards should I have?

There’s no ideal number of credit cards you should have. Your spending habits and ability to pay all bills on time determine your sweet spot. If you like racking up rewards points, you might want to explore cards that maximize grocery, travel or gas spending.

What costs are involved with credit cards?

Here’s a rundown of the most common fees and how to avoid them — or perhaps embrace them.

1. Annual fee. An annual fee is — surprise!
2. Balance transfer fee.
3. Cash advance fee.
4. Finance charge.
5. Foreign transaction fee.
6. Late payment fee.
7. Over-limit fee.
8. Returned payment fee.