Misrepresenting the intended use or occupancy of a purchased property in mortgage applications to obtain more favorable loan terms can constitute bank or mortgage fraud and may prompt criminal investigation or prosecution.
October 24, 2025
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legal
This describes a general legal principle regarding fraudulent statements in mortgage lending contexts.
A home equity line of credit (HELOC) typically carries a variable interest rate that can change monthly based on market conditions.
October 01, 2025
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definition
General description of HELOC interest-rate behavior.
Spreading mortgage repayment over a longer term (for example, 50 years instead of 30 years) typically lowers monthly principal-and-interest payments but increases the total interest paid over the life of the loan.
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financial
Trade-off between monthly affordability and lifetime financing cost