loan question - Posted by JoeTx

import · February 27, 2002, 5:01pm

Posted by Brian M. Powers(MI) on March 03, 2002 at 12:24:54:

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import · February 27, 2002, 5:01pm

Posted by JoeTx on February 27, 2002 at 18:01:55:

lets say you get approved for loan for a home for you to live in,and instead of living there you rent the home out is there any penalty or any wrong doing?

import · February 27, 2002, 6:30pm

Re: loan question - Posted by Brian M. Powers(MI)

Posted by Brian M. Powers(MI) on February 27, 2002 at 19:30:30:

If you tell a lender you are seeking a loan for an owner-occupied home and your full intention is to rent it out than you are lying and committing loan fraud.

BMP

import · February 28, 2002, 6:40pm

Re: loan question - Posted by DeLor (NJ)

Posted by DeLor (NJ) on February 28, 2002 at 19:40:50:

I just read my mortgage agreement and it states that I must live in the house for at least 12 months (while owning it) or they can make the mortgage come due. Check the fine print.