liar’s loan
n.— «Over half of subprime mortgages are stated-income loans, loans which the industry often refers to as “liars loans.” The question is, who’s lying? According to a survey of over 2,000 mortgage brokers, 43% of brokers who make these loans do so because they know that their borrowers don’t have the income to qualify for the loan.» —“Hearing On Preserving The American Dream: Predatory Lending Practices And Home Foreclosures” by Christopher Dodd OpEdNews.com Feb. 7, 2007. (source: Double-Tongued Dictionary)
Further reading
A librarian opens a book and finds a mysterious invitation scribbled on the back of a business card. Another discovers a child’s letter to the Tooth Fairy, tucked into a book decades ago. What stories are left untold by these forgotten...
If you speak a second or third language, you may remember the first time you dreamed in that new tongue. But does this milestone mean you’re actually fluent? And a couple’s dispute over the word regret: Say you wish you’d been able...