How Shady Facebook Friends Could Affect Your Loans Matthew Fleischer - TakePart
go to original September 24, 2013

Lending companies are using information gleaned from social media sites like Twitter and Facebook to gauge loan reliability. (Reuters/Dado Ruvic)

Imagine this: You just found your dream home and you can actually afford it. Your friends live up the block and there’s a perfect neighborhood pub around the corner.

Or maybe you've spent countless hours studying and acing tests to get into that expensive private school that lets you study with your academic idols.  

Either way, without a loan to pay that through-the-roof expensive tuition or the little house tucked behind that white picket fence, your dreams are on hold.

Lenders look at lots of things when they deny a loan, but would you believe your Facebook account could be to blame?

During the underwriting process, the lenders can dig up some information on your Facebook friends, including that one guy from high school who insisted on friending you... you know, the one whose house was foreclosed on last year for failing to make payments.

Your supposedly shady association just cost you your chance at getting a loan. Sound farfetched?

Read the rest at TakePart

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