This Article Never Mention:ed:
It is amazing how many homeowners in states e.g., Nevada don’t know they have “recourse mortgages” that allow lenders deficiency-judgments to attach their income and  assets after foreclosure to recover “lender loan losses and broad foreclosure expenses.”

33% of those surveyed said they would exaggerate their finances to get credit. Mortgage Loan applicants that lie, misrepresent their finances to obtain a federally insured home mortgage can be fined by the Justice Department up $1million dollars and imprisoned up to 30-years. US government can also use any misrepresentation made verbal or written by a home mortgage applicant that obtained a federally insured home loan to Civilly Forfeit the real estate secured by obtained loan.

 

With Bitcoin around, and artificial entities, folks are getting smarter. They will be placing all their assets other than their mortgaged properties into LLCs, and using Bitcoin to earn their income, tax free.