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Updated over 5 years ago on . Most recent reply

User Stats

149
Posts
13
Votes
Allen Lopez
  • Rental Property Investor
  • Baton Rouge, LA
13
Votes |
149
Posts

Would I be committing mortgage fraud?

Allen Lopez
  • Rental Property Investor
  • Baton Rouge, LA
Posted

So If I purchase a home as my primary residence with all 100% honest intent to live in it. Mortgage laws say that I intent to inhabit the property as my primary residence. However, what if I have to relocate to another state 3-6 months after closing?

At that point, I have to choices, I can rent the property out or sell it. Both which would be violating the rule/law to live in it for a year.

Help?

Thanks in advance

Most Popular Reply

User Stats

62
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50
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Replied

Just rent it- the lender only really cares that they are getting paid... 

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