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Updated over 14 years ago on . Most recent reply

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Francis Dai
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Mobile Home Park Investing

SAFE Act and the definition of primary residence

Francis Dai
Posted

The SAFE Act states that a homeowner selling his primary residence does NOT need to employ a licensed mortgage originator.

What is the definition of primary residence?

If I buy a mobile home, move in, change the utilities into my name, and get one utilities bill, does that make the mobile home my primary?

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Don Konipol
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  • Lender
  • The Woodlands, TX
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Don Konipol
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  • The Woodlands, TX
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If you have to do something tricky in order to be able to claim it's your primary residence then it NOT your primary residence!

  • Don Konipol
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