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Loan Lies = Federal Offense

PSA: That foreclosure workaround you've been plotting for some time now is a decidedly bad call. (One house is on the verge of foreclosure. Why not by a second and walk away from the first?) It turns out that lying on a mortgage application is, in fact, a Federal offense punishable by jail time and whatever else the Feds dream up. Back to the drawing board. [SF Gate]