Posted by Bill K. (AZ) on May 02, 2000 at 19:21:04:
What do your loan documents say? I don’t know anything about Nehemiah loans in particular. If it says that you must occupy it to keep it in place, then you MAY have a problem. Nonetheless, there are no “loan police” that check on you. However, if you don’t move in, you’ll eventually have to give the lender a new address for all communications. This MAY tip them off.
Many loans are based on “intent”. So, you may be able to keep the loan in place even though you never actually occupied the home if it truly was your intent to occupy the premises when you applied for the loan. Obviously, a lender can’t make you stay married or keep any other life-changing events from affecting your life and their loan. These things happen.
At this point, I’d just do what I needed to get my life in order. If the lender calls the loan due, then you can communicate with them and look into refinancing at that time. In the meantime, if you’re making the payments, I wouldn’t worry about it.
I hope this helps.
Bill K. (AZ)