Did you know that one of the major causes of the mortgage meltdown has been home buyers “fudging” their income on their loan docs, with the help of certain mortgage brokers? There has been such an epidemic that a new term has been coined: the liar loan. Lying on your home loan isn’t the same thing as lying on your online dating profile: It is a federal offense with a potential fine of up to $1 million or 30 years in prison.

Banks are now tightening up their lending standards; don’t expect to be able to get a liar’s loan anytime soon now.