Posted by Randy on August 22, 2003 at 09:44:46:
Yes the lenders really care? If you move to your new property as you describe most lenders will require a sales contract demonstrating you have sold your current residence, this is one of the oldest tricks in book ? you may be a newbe but lenders aren?t. Plus is may be considered fraud and both lenders can call the loans. Better find a source that is investor friendly and allows income properties at high LTV.