EthicsQuestion 291 of 400
A family exaggerates their income slightly so they can qualify to buy a home they intend to live in. This is generally categorized as:
a.Fraud for profit
b.Not fraud at all, since they will live there
c.Fraud for housing (property)
d.Predatory lending
Explanation
Fraud committed by borrowers to obtain a home they intend to occupy is 'fraud for housing (property).' Fraud for profit is committed by insiders/rings to extract money, it remains fraud even if they occupy the home, and predatory lending is misconduct by a lender, not a borrower misrepresentation.
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