Monday, December 31, 2007

Do I Look Like an Ostrich?

I feel as though I've been digging my head in the sand. I had no idea that, when I wrote my last post about liars and thieves, there was a real market out there for deceiving lenders (unless it's the mortgage brokers and banks who fabricate the proof of income).

Over the last couple of days, my blog has been linked from Google search results that requested fake documentation. Here are some of the requests:

"how to use a fake name to get a loan" (They must be joking!)

"make check stubs" (Maybe they want to know how to make stubs for their personal checking account.)

"free fake check stubs" (There's no excuse for this one.)

"fake paycheck" (Just for entertainment purposes, I'm sure.)

"definition of stated income" (Um, it's how much money you actually made.)

"make a fake paycheck" ( . . . and get a big loan!)

" make pay check stub" (This could be an employer, right?)

"what software can i use to make a paycheck stub" (Would someone besides a business owner have a legitimate reason to do this? But wouldn't a check writing service or program, like Quick Books, make the actual stub?)

At first I seriously considered deleting my post. I don't want to be associated with the underground market of loan fraud. But then I considered it a public service to speak out against this type of thing. Maybe after reading my last post, people have reconsidered doing their evil deeds. After all, we all slip once in a while. If I can help them come to their collective senses, then maybe I've stopped them from doing something that they'd regret.

Or, am I missing the point completely. Do you think the titles of these searches are for something completely unrelated? Or does that question shove my head right back into the beach ground cover? I have to wonder how many more searches there were from people who didn't link to my site. It's probably a very high number.

Besides the obvious, one of the biggest problems with people creating their own pay stubs in order to deceive lenders is that it's perpetuating the trouble in the mortgage arena. If these people obtain loans that they can't afford, then it may take longer for the real estate market to recover because these con artists will be the ones defaulting in one to three years. Maybe they feel that it's safer now to buy homes that cost a larger portion of their take home pay because the government will have a bail out program by the time they need to be rescued from their own stupidity.

Am I reading this right or am I way off base as to the possible intentions of these searches? If you are one of the people who have linked onto my site after looking into creating pay stubs or if you have legitimately (or illegitimately) made a fake pay check or stub, let us know why. Please do us a favor and explain yourselves so that we're able understand the other point of view. Also, let us know if you are doing it for investment purposes. I think not for the majority, and I'm tired of the doom and gloomers pouring their venom on investors, when it's Joe Public whose really the one trying to pull a fast one.

Tomorrow is January 1, 2008. Let's make a resolution to instill our personal and business dealings with a decorum of integrity.