Last modified on 19 June 2013, at 19:39

liar's mortgage

EnglishEdit

NounEdit

liar's mortgage (plural not attested)

  1. (informal) A derogatory term for a stated-income (U.S.) or self-certificated (U.K.) loan secured by a mortgage granted without the lender verifying information provided by the applicant as to his or her financial or employment status.