I am applying for a mortgage. I currently have one credit card and a car loan that reports. I have one personal loan outstanding (borrowed money from a relative) that does not report to any of the cra's - of course - but I'm wondering if I should include it on my loan app.? It won't be paid off for 3-4 years. If I report it, my debt/income ratio will look worse. I'm paying on time and I am current but because it doesn't report, those aspects won't help me. Am I bound by law to report this even though there's no way the loan co. could ever find out about it? Its sort of like the past bk question: they want you to report if you had one even though it may be decades old. Thanks-
