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You shouldn't get your worldview from a TV show. Such a scheme can only be used for pre-approval, to prove you can later make a down payment, not to secure an a
by searealist 2y ago
You shouldn't get your worldview from a TV show. Such a scheme can only be used for pre-approval, to prove you can later make a down payment, not to secure an actual loan.
- vundercind 2y agoYes? Exactly? How is this a correction? Doing this means misrepresenting the amount of debt you have, in order to get a loan you’d not otherwise manage to secure. It can happen on larger scales or for business purposes, too, home mortgages are just how (lots and lots of) normal people commit that particular crime. The parts of the show I have some real-world understanding of are remarkably observant and accurate. I’m inclined to give it the benefit of the doubt for parts I’m less familiar with. My point was simply that financial crimes, including some really common ones that often go un-prosecuted until suddenly it matters, are often components of federal cases. Piling on stuff like that, or using them for early charges to secure warrants for further investigation or to gain leverage, is fairly normal. I chose a high-quality pop culture reference to illustrate that because… that’s an effective way to communicate.
- searealist 2y agoHow does a temporary loan lead to approval (not a pre-approval, subject to final approval later)? What percent of kids do you estimate receive such fraudulent loans from their parents?
- vundercind 2y ago> How does a temporary loan lead to approval (not a pre-approval, subject to final approval later)? When it’s passed off as a gift. > What percent of kids do you estimate receive such fraudulent loans from their parents? I dunno, but it’s pretty common. Maybe unknown in SES levels either too low (no money to loan) or too high (no fraud, because it’s actually a gift) but it’s common.
- searealist 2y agoMoving the goal posts I see.
- vundercind 2y agoNo? Seriously, what moved? I’m entirely baffled at the pushback on this, incidentally. Do folks just really not want this to be true, for some reason?
- searealist 2y agoCan you explain how borrowing money from your parents that you immediately pay back helps you acquire a bank loan? This was your original claim.
- daeros 2y agoMore and more TV shows these days are realistic as FUCK And inspired by reality. The Wire Especially
- unaindz 2y agoi would not put "these days" and the wire in the same paragraph but otherwise I agree. For most if not all of David Simons content.