Question: A borrower is applying for a second mortgage to help pay for her daughter's wdding Siehas cllamed you that she has no RRSP's or savings
A borrower is applying for a second mortgage to help pay for her daughter's wdding Siehas cllamed you that she has no RRSP's or savings other than a s1200 balance inher chequirg accourt. Sre onres a 10 year old Chevrolet Cavalier, which she purchased three years ago. Sheh havsa woth a detir int diss 500 and a balance of $1432, a Master Card with a credit limit of 52000 and a balance of s1200. ster beivered and does not receive any spousal support. Her house, which she purchased 5 years aga. 1 appased at 5123,500 . The outstanding balance on her first mortgage is 599345.87. She has irformed you that sizk has been working as an administrative assistant for the past 15 years and earns 599.600 per year and ta teeen earning that same wage for the past 8 years. What do you suspect that she stying to misceperent to ensure that her application is approved
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