Is it a crime for request a loan when your using money different than what you tell them?
I mean you say anything to get loan even those it not all truth with lowest rates.
Example: you need to borrowed money to buy commercial building for investment reason, but you tell mortgage company that it’s a home that your gonna live in, but it’s not true and real reason.
Those example I am talking about, is that a crime? And what chance it can get prosecute for doing it?
Otherwise if you tell them 100 percent truth, you either will get rejected on loan or end up pay higher interest rate which cause your business to go bankruptcy.